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Exagen Inc.
US$69m

Canaccord Genuity acts as Bookrunning Manager for US$69.1 million public offering of common stock by Exagen Inc.

Canaccord Genuity is pleased to announce that on March 25, 2021, it completed a public offering of common stock for Exagen Inc. (NASDAQ: XGN) (the “Company”). The Company issued a total of 4,255,000 shares of its common stock at a price to the public of $16.25 per share, which includes the full exercise of the underwriters’ overallotment option. The gross proceeds to the Company, before deducting the underwriting discounts and commissions and estimated offering expenses, were approximately $69.1 million. The Company intends to use the net proceeds from the offering to fund the development of its multi-omics capabilities, including by expanding its clinical laboratory, advancing its product pipeline, including supporting development of tests for fibromyalgia, rheumatoid arthritis, thrombosis and lupus nephritis, enhancing its intellectual property protection and for working capital and other general corporate purposes. The Company may also use a portion of the net proceeds from the offering to in-license, acquire or invest in complementary businesses, technologies, products or assets.

Canaccord Genuity acted as Bookrunning Manager for the offering.

Exagen Inc. develops and commercializes innovative testing products for patients suffering from debilitating and chronic diseases. The Company’s solutions leverage proprietary technology and enable healthcare providers to optimize patient care through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus.

Canaccord Genuity is focused on the corporate finance needs associated with growth companies in the United States, Canada, Europe and Asia. We are structured to provide our clients with a full range of global investment banking services, including corporate finance, research, sales and trading. Our thematic research focusing on companies around the world provides our firm with unique access to growth investors. In the last twelve months, the firm executed 283 public financings that raised approximately $46.7 billion and advised on 75 M&A assignments.

 

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