Exagen Inc. Prices Public Offering of Common Stock
Exagen Inc. (XGN) has announced the pricing of its public offering of 3,350,000 shares of common stock at $5.25 per share. The offering is expected to generate gross proceeds of $17.6 million before deducting underwriting discounts and expenses. The company has granted underwriters a 30-day option to purchase up to an additional 502,500 shares under the same terms.
The offering, scheduled to close on May 9, 2025, is being conducted through Canaccord Genuity as the sole bookrunner. The public offering is made pursuant to a shelf registration statement on Form S-3 that was declared effective by the SEC on November 29, 2023.
Exagen Inc. (XGN) ha annunciato il prezzo della sua offerta pubblica di 3.350.000 azioni ordinarie a 5,25 $ per azione. L'offerta dovrebbe generare un ricavo lordo di 17,6 milioni di dollari prima della detrazione degli sconti e delle spese di collocamento. La società ha concesso agli underwriter un'opzione di 30 giorni per acquistare fino a ulteriori 502.500 azioni alle stesse condizioni.
L'offerta, prevista per concludersi il 9 maggio 2025, è gestita da Canaccord Genuity in qualità di unico bookrunner. L'offerta pubblica viene effettuata in base a una dichiarazione di registrazione shelf sul modulo S-3, dichiarata efficace dalla SEC il 29 novembre 2023.
Exagen Inc. (XGN) ha anunciado el precio de su oferta pública de 3.350.000 acciones ordinarias a 5,25 $ por acción. Se espera que la oferta genere ingresos brutos de 17,6 millones de dólares antes de deducir los descuentos y gastos de suscripción. La compañía ha otorgado a los suscriptores una opción de 30 días para comprar hasta 502.500 acciones adicionales bajo los mismos términos.
La oferta, programada para cerrarse el 9 de mayo de 2025, se realiza a través de Canaccord Genuity como único coordinador del libro de órdenes. La oferta pública se realiza conforme a una declaración de registro shelf en el Formulario S-3 que fue declarada efectiva por la SEC el 29 de noviembre de 2023.
Exagen Inc. (XGN)는 보통주 3,350,000주를 주당 5.25달러에 공모한다고 발표했습니다. 이번 공모를 통해 인수 수수료 및 비용 공제 전 1,760만 달러의 총 수익을 예상하고 있습니다. 회사는 인수인에게 동일 조건으로 추가 502,500주를 30일간 매수할 수 있는 옵션을 부여했습니다.
이번 공모는 2025년 5월 9일에 마감될 예정이며, 단독 대표주관사인 Canaccord Genuity를 통해 진행됩니다. 공모는 2023년 11월 29일 SEC가 효력을 인정한 S-3 양식의 선반 등록 명세서에 따라 이루어집니다.
Exagen Inc. (XGN) a annoncé le prix de son offre publique de 3 350 000 actions ordinaires à 5,25 $ par action. L'offre devrait générer un produit brut de 17,6 millions de dollars avant déduction des remises et frais de souscription. La société a accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 502 500 actions supplémentaires aux mêmes conditions.
L'offre, dont la clôture est prévue le 9 mai 2025, est menée par Canaccord Genuity en tant que chef de file unique. L'offre publique est réalisée conformément à une déclaration d'enregistrement shelf sur le formulaire S-3, déclarée effective par la SEC le 29 novembre 2023.
Exagen Inc. (XGN) hat den Preis für sein öffentliches Angebot von 3.350.000 Stammaktien zu 5,25 $ pro Aktie bekanntgegeben. Das Angebot soll Bruttoerlöse von 17,6 Millionen US-Dollar vor Abzug von Underwriting-Rabatten und -Kosten erzielen. Das Unternehmen hat den Underwritern eine 30-tägige Option eingeräumt, bis zu 502.500 zusätzliche Aktien zu denselben Konditionen zu erwerben.
Das Angebot, dessen Abschluss für den 9. Mai 2025 geplant ist, wird über Canaccord Genuity als alleinigen Bookrunner durchgeführt. Das öffentliche Angebot erfolgt gemäß einer Shelf-Registrierungserklärung auf Formular S-3, die von der SEC am 29. November 2023 für wirksam erklärt wurde.
- Expected to raise $17.6 million in gross proceeds to strengthen company's financial position
- Potential dilution for existing shareholders with 3,350,000 new shares being issued
- Additional dilution possible if underwriters exercise their option for 502,500 more shares
Insights
Exagen raising $17.59M through stock offering at $5.25/share; creates dilution for existing shareholders while strengthening balance sheet.
Exagen's public offering represents a significant capital raising event with 3.35 million shares priced at $5.25 per share, generating
This offering creates two notable effects. First, it introduces dilution for existing shareholders, as the newly issued shares will increase the total outstanding share count, reducing each shareholder's proportional ownership. This dilutive effect is a mathematical certainty with any secondary offering.
Second, the additional capital will strengthen Exagen's balance sheet. While the press release doesn't specify how the funds will be utilized, public companies typically raise capital for strategic purposes such as funding operations, research and development initiatives, debt reduction, or business expansion.
The use of a shelf registration statement from November 2023 indicates this offering was part of Exagen's planned financial strategy rather than an impromptu decision. Canaccord Genuity serving as the sole bookrunner suggests professional market validation of the offering structure.
For investors, this offering represents a standard financial transaction in the lifecycle of a public company. The dilution effect is an immediate consideration, while the potential benefits from the capital infusion would depend on how effectively management deploys these new funds.
CARLSBAD, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced the pricing of its previously announced underwritten public offering of 3,350,000 shares of its common stock at a public offering price of
Canaccord Genuity is acting as sole bookrunner for the offering.
The public offering is being 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”) on November 17, 2023, as amended on November 27, 2023, and declared effective by the SEC on November 29, 2023. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, can 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.
Forward-Looking Statements
Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the completion of the public offering and other risks and uncertainties that are described under the heading “Risk Factors” in Exagen’s preliminary prospectus filed with the SEC on May 7, 2025, Exagen’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 11, 2025 and any subsequent filings with the SEC. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contact:
Ryan Douglas
Exagen Inc.
ir@exagen.com
760.560.1525
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