Accelerate Diagnostics Prices Public Offering Of 17.50 Mln Shares At $2.00/shr

(RTTNews) - Accelerate Diagnostics Inc. (AXDX) said that it has priced an underwritten public offering of 17.50 million shares of its common stock at a price to the public of $2.00 per share.

The company expects the gross proceeds from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, to be $35.0 million.

In addition, Accelerate Diagnostics has granted the underwriters a 30-day option to purchase up to an additional 2.63 million shares of its common stock at the public offering price, less the underwriting discounts and commissions.

Accelerate Diagnostics anticipates using the net proceeds from the offering for general corporate purposes and to fund commercialization efforts. All of the shares are being offered by Accelerate Diagnostics, and the offering is expected to close on or about August 23, 2022.