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SAN DIEGO, CA – Exagen Inc. (Nasdaq: XGN), an organization dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention, today announced the pricing of its initial public offering of 3,600,000 shares of common stock at a public offering price of $14.00 per share, before underwriting discounts and commissions. All of the common stock in this offering is being offered by Exagen Inc. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Exagen, are expected to be $50.4 million. Exagen has granted the underwriters a 30-day option to purchase up to an additional 540,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.
Exagen common stock is expected to begin trading on The Nasdaq Global Market on September 19, 2019, under the ticker symbol “XGN.” The offering is expected to close on September 23, 2019, subject to the satisfaction of customary closing conditions.
Cowen and Company, LLC, Cantor Fitzgerald & Co., and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering.
Registration statements relating to the shares being sold in this offering have been filed with the Securities and Exchange Commission and became effective on September 18, 2019. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from: Cowen and Company, LLC c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (631) 274-2806, or by emailing PostSaleManualRequests@broadridge.com; from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor New York, NY 10022, or by emailing email@example.com; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at (800) 621-0687, or by emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Exagen Inc.
Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable rheumatologists to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including SLE and rheumatoid arthritis.