Axogen Inc. (NASDAQ: AXGN) has priced an underwritten public offering of 4.91 million shares at $42.50 per share, raising approximately $208.7 million in gross proceeds before deducting underwriters' discounts, commissions and offering expenses, the company said.
The offering, led by BofA Securities, Jefferies and Wells Fargo Securities as book-running managers, with Mizuho Securities USA LLC as bookrunner and Lake Street Capital Markets LLC as co-manager, is expected to close on Friday subject to customary closing conditions.
Underwriters were granted a 30-day option to purchase up to an additional 736,500 shares at the public offering price, less underwriting discounts and commissions, the company said.
Axogen plans to use substantially all of the net proceeds to fund the cash consideration for its previously announced acquisition of BioCircuit Technologies Inc. and to pay related transaction fees and expenses. Any remaining proceeds will be directed toward general corporate purposes, including working capital and capital expenditures.
The offering is not conditioned on the completion of the BioCircuit deal. If the acquisition does not close, Axogen will instead deploy the net proceeds for general corporate purposes.
The shares were issued pursuant to an effective shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission on January 21, 2026.
Axogen, headquartered in Alachua and Tampa, Florida, develops and markets surgical solutions for peripheral nerve function restoration. Its product portfolio includes nerve allografts, connectors, protectors and tissue matrix products.
