Exagen Inc. Announces Closing of $20.2 Million Public Offering Including Full Exercise of Underwriter’s Option to Purchase Additional Shares
Exagen Inc. (XGN) has successfully completed its public offering, raising approximately $20.2 million in gross proceeds. The offering included the sale of 3,350,000 shares of common stock, plus an additional 502,500 shares due to the full exercise of the underwriter's option, all priced at $5.25 per share. The transaction closed on May 9, 2025, with Canaccord Genuity acting as the sole bookrunner. The offering was conducted under Exagen's shelf registration statement previously filed with the SEC.
Exagen Inc. (XGN) ha completato con successo la sua offerta pubblica, raccogliendo circa 20,2 milioni di dollari lordi. L'offerta ha incluso la vendita di 3.350.000 azioni ordinarie, più ulteriori 502.500 azioni derivanti dall'esercizio completo dell'opzione dell'intermediario, tutte al prezzo di 5,25 dollari per azione. La transazione si è chiusa il 9 maggio 2025, con Canaccord Genuity come unico bookrunner. L'offerta è stata effettuata in base alla dichiarazione di registrazione a scaglioni di Exagen precedentemente depositata presso la SEC.
Exagen Inc. (XGN) ha completado con éxito su oferta pública, recaudando aproximadamente 20,2 millones de dólares en ingresos brutos. La oferta incluyó la venta de 3.350.000 acciones ordinarias, más 502.500 acciones adicionales debido al ejercicio total de la opción del suscriptor, todas a un precio de 5,25 dólares por acción. La transacción se cerró el 9 de mayo de 2025, con Canaccord Genuity actuando como único colocador. La oferta se realizó bajo la declaración de registro en estantería de Exagen previamente presentada ante la SEC.
Exagen Inc. (XGN)가 성공적으로 공개 모집을 완료하여 약 2,020만 달러의 총 수익을 확보했습니다. 이번 모집에는 보통주 3,350,000주와 인수인의 옵션 전부 행사로 인한 추가 502,500주가 포함되었으며, 모든 주식은 주당 5.25달러에 가격이 책정되었습니다. 거래는 2025년 5월 9일에 마감되었으며, Canaccord Genuity가 단독 주간사 역할을 맡았습니다. 이번 모집은 Exagen이 SEC에 사전 제출한 선반 등록 명세서에 따라 진행되었습니다.
Exagen Inc. (XGN) a mené à bien son offre publique, levant environ 20,2 millions de dollars de produit brut. L’offre comprenait la vente de 3 350 000 actions ordinaires, plus 502 500 actions supplémentaires suite à l’exercice complet de l’option du souscripteur, toutes au prix de 5,25 dollars par action. La transaction s’est clôturée le 9 mai 2025, avec Canaccord Genuity agissant en tant que seul chef de file. L’offre a été réalisée dans le cadre de la déclaration d’enregistrement sur étagère d’Exagen précédemment déposée auprès de la SEC.
Exagen Inc. (XGN) hat erfolgreich sein öffentliches Angebot abgeschlossen und dabei rund 20,2 Millionen US-Dollar Bruttoerlös erzielt. Das Angebot umfasste den Verkauf von 3.350.000 Stammaktien sowie zusätzlich 502.500 Aktien aufgrund der vollständigen Ausübung der Option des Underwriters, alle zu einem Preis von 5,25 US-Dollar pro Aktie. Die Transaktion wurde am 9. Mai 2025 abgeschlossen, wobei Canaccord Genuity als alleiniger Bookrunner fungierte. Das Angebot wurde unter der zuvor bei der SEC eingereichten Shelf-Registrierung von Exagen durchgeführt.
- Successfully raised $20.2 million in gross proceeds to strengthen balance sheet
- Full exercise of underwriter's option indicates strong demand for the offering
- Share offering will cause dilution for existing shareholders
- Offering price of $5.25 per share may represent a discount to market price
Insights
Exagen raised $20.2M through public offering, diluting existing shares while strengthening balance sheet amid autoimmune testing market competition.
Exagen's $20.2 million capital raise through this public offering represents a significant cash infusion for the autoimmune testing company. The offering comprised 3,350,000 primary shares plus an additional 502,500 shares from the fully exercised underwriter's option, all priced at $5.25 per share.
This financing strengthens Exagen's balance sheet, providing crucial working capital that can fund operations, R&D initiatives, and potential market expansion efforts in the competitive autoimmune testing space. However, investors should recognize the dilutive impact of issuing approximately 3.85 million new shares, which increases the company's outstanding share count and potentially dilutes earnings per share.
The $5.25 offering price provides important context about market valuation perceptions. Canaccord Genuity serving as the sole bookrunner suggests moderate institutional interest in the offering. The successful exercise of the underwriter's option to purchase additional shares indicates sufficient market demand for Exagen's equity.
For diagnostic companies like Exagen, capital requirements are substantial to develop and commercialize testing solutions. This financing provides operational runway but also creates shareholder expectations for accelerated growth or pathway to profitability. The company will need to demonstrate efficient capital allocation to justify this dilution through improved financial performance or expanded market presence in autoimmune testing solutions.
CARLSBAD, Calif., May 09, 2025 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it has completed the sale of an additional 502,500 shares of its common stock at a public offering price of
All of the shares in the public offering, including the full exercise of the underwriter’s option, were sold by Exagen, with gross proceeds to Exagen of approximately
Canaccord Genuity acted as sole bookrunner for the offering.
The public offering was made pursuant to a shelf registration statement on Form S-3 (including a base prospectus) that was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on November 29, 2023. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov, and may be obtained from Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, Suite 3000, Boston, MA 02109, or by email at prospectus@cgf.com.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Exagen
Exagen Inc. (Nasdaq: XGN) is a leading provider of autoimmune diagnostics, committed to transforming care for patients with chronic and debilitating autoimmune conditions. Based in San Diego County, California, Exagen’s mission is to provide clarity in autoimmune disease decision making and improve clinical outcomes through its innovative testing portfolio. The Company’s flagship product, AVISE® CTD, enables clinicians to more effectively diagnose complex autoimmune conditions such as lupus, rheumatoid arthritis, and Sjögren’s syndrome earlier and with greater accuracy. Exagen’s laboratory specializes in the testing of rheumatic diseases, delivering precise and timely results, supported by a full suite of AVISE®-branded tests for disease diagnosis, prognosis, and monitoring. With a focus on research, innovation, education, and patient-centered care, Exagen is dedicated to addressing the ongoing challenges of autoimmune disease management. For more information, please visit Exagen.com or follow @ExagenInc on X.
Contact
Ryan Douglas
Exagen Inc.
ir@exagen.com
760.560.1525
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