2022-08-18 | NDAQ:AXDX | Press release

TUCSON, Ariz., August 18, 2022 /PRNewswire/ — Accelerate Diagnostics, Inc. (Nasdaq: AXDX) (“Accelerate Diagnostics”) today announced the price of an underwritten public offering of 17,500,000 common shares at a public price of $2.00 per share. The gross proceeds of the offering to Accelerate Diagnostics, before deduction of underwriting discounts and fees and estimated offering costs, are expected to be $35.0 million. In addition, Accelerate Diagnostics has granted underwriters a 30-day option to purchase up to 2,625,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. Accelerate Diagnostics plans to use the net proceeds from the offering for general corporate purposes and to fund marketing efforts. All shares are offered by Accelerate Diagnostics, and the offering is expected to close on or about August 23, 2022subject to customary closing conditions.

William Blair & Company, LLC is acting as bookkeeper for the Offering. Oppenheimer & Co. Inc. is acting as bookrunner and Craig-Hallum Capital Group LLC is acting as joint offering manager.

A shelf registration statement relating to the shares was filed with the United States Securities and Exchange Commission (the “SEC”) on January 27, 2021 and declared effective on February 4, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC. A copy of the definitive prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from William Blair & Company, LLC, Attn: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by phone at (800) 621-0687, or by email at prospectus@williamblair.com or by visiting the EDGAR database on the SEC website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.

About Accelerate Diagnostics, Inc.

Accelerate Diagnostics, Inc. is a in vitro diagnostics company dedicated to providing solutions to the global challenges of antimicrobial resistance and sepsis. The Accelerated Pheno® system and accelerate the arc are designed to reduce clinicians’ wait time to determine the most optimal antibiotic therapy for bacteremic patients. These diagnostic systems are designed to serve clinical laboratories with automated solutions to expedite identification and antimicrobial susceptibility test results directly from positive blood culture samples.

The “ACCELERATE DIAGNOSTICS” and “ACCELERATE PHENO” and “ACCELERATE PHENOTEST” and “ACCELERATE ARC” and diamond-shaped logos and marks are trademarks or registered trademarks of Accelerate Diagnostics, Inc.

Forward-looking statements

Certain of the statements made in this press release are forward-looking, such as, among other things, statements relating to Accelerate Diagnostics’ expectations regarding the expected closing date and its intended use of the net proceeds of the offering. Actual results or developments may differ materially from those projected or implied by such forward-looking statements and Accelerate Diagnostics cautions investors not to place undue reliance on any forward-looking statements contained in this press release. Factors that could cause such a difference include the risks and uncertainties associated with the completion of the public offering on the terms anticipated or not at all, market conditions and the satisfaction of customary closing conditions relating to the offering. public. Further information about the risks and uncertainties facing Accelerate Diagnostics is contained in the section entitled “Risk Factors” in the preliminary prospectus supplement filed with the SEC and the documents incorporated by reference therein, which include the Accelerate Diagnostics annual report on Form 10-K. for the year ended December 31, 2021 and Quarterly Reports Form 10-Q for periods ended March 31, 2022 and June 30, 2022. Except as required by law, Accelerate Diagnostics disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Quote Show original content to download multimedia:https://www.prnewswire.com/news-releases/accelerate-diagnostics-announces-pricing-of-public-offering-of-common-stock-301608985.html

SOURCE Accelerate Diagnostics, Inc.

Comments are closed.