Accelerate Diagnostics, Inc. (AXDX) Friday announced the pricing of its offering of $15 million of shares and in lieu of common stock to certain investors, pre-funded warrants to purchase shares.
Currently, the company's stock is tumbling 39.39 percent to $0.9999 over the previous close of $1.6050 on the Nasdaq.
The company is offering 6,860,659 units, each comprising of a common stock and a warrant at $1.50 per unit, along with pre-funded warrants at $1.49 per unit.
The gross proceeds from the offering, which will close on or about January 23, are expected to be $10.3 million.
Upon the completion of offering, the company will sell 1,156,069 units $1.73 per unit to the Jack W. Schuler Living Trust . Additionally the trust will purchase an additional 1,560,693 units at $1.73 per unit on or before May 20, 2024.
The company is expected to receive gross payments of $4.7 million from the private placement.
The company has also granted a 30-day option to the underwriters to purchase up to 1,029,098 shares of common stock and/or additional warrants.
William Blair & Company, L.L.C. is acting as the sole book-running manager for the offering.
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