October 30, 2018 Business Wire
RVINE, Calif.–(BUSINESS WIRE)–Axonics Modulation Technologies, Inc. (“Axonics”), a medical technology company focused on the design, development and commercialization of innovative and minimally invasive sacral neuromodulation (“SNM”) solutions for the treatment of overactive bladder (“OAB”), fecal incontinence (“FI”), and urinary retention (“UR”), today announced the pricing of its initial public offering of 8,000,000 shares of common stock at an initial public offering price of $15.00 per share. Axonics has also granted the underwriters a 30-day option to purchase an additional 1,200,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered by Axonics.
The shares of Axonics’ common stock have been approved for listing on The Nasdaq Global Select Market and began begin trading under the ticker symbol “AXNX” on October 31, 2018. The shares opened strong at $16.05/Share, +7% up vs. IPO price of $15/Share against a very fragile market
BofA Merrill Lynch and Morgan Stanley are acting as joint book-running managers for the offering. Wells Fargo Securities is acting as lead manager and SunTrust Robinson Humphrey is acting as co-manager for the offering.
About Axonics Modulation Technologies, Inc.
Axonics has developed an innovative rechargeable SNM system for the treatment of patients with OAB, FI, and UR. Axonics’ proprietary r-SNM System is designed to be 60% smaller than existing technology and to last approximately 15 years. Axonics currently has marketing approvals in Europe, Canada, and Australia for OAB, FI, and UR.
Ally Bridge Group, on top of its private investment in Axonics made a few years ago, is also an active investor in the IPO.