(RTTNews) - Axogen, Inc. (AXGN) announced that it has priced an upsized public offering of 4 million shares of its common stock at $31.00 per share.
Following the news, AXGN is down nearly 5% at $31.38 in the premarket.
The gross proceeds of the offering are expected to be approximately $124 million. The proposed offering is expected to close on January 23, 2026.
Axogen has granted the underwriters a 30-day option to purchase up to an additional 6 million shares of its common stock at the public offering price.
The company intends to use the net proceeds from the offering for early payoff and termination of its term loan facility with Oberland Capital, working capital, capital expenditures and other general corporate purposes.
For the proposed offering, Wells Fargo Securities and Mizuho are acting as lead book-running managers.
Over the year, AXGN traded in a range of $9.22 and $34.71.
AXGN closed Wednesday's trade at $33.01, up 3.58%.
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