Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Files An 8-K Other Events
Item 8.01.
| Other Events. |
On May 15, 2017, Accelerate Diagnostics, Inc. (the Company)
closed an underwritten public offering (the Offering) of
2,750,000 shares of its common stock, upsized from an original
share offering of 2,500,000 shares, par value $0.001 per share
(the Shares). The Shares were issued and sold to an underwriting
agreement (the Underwriting Agreement), dated May 9, 2017, by and
among the Company and J.P. Morgan Securities LLC, William Blair
Company, L.L.C. and Piper Jaffray Co., as representatives of the
several underwriters named therein (collectively, the
Underwriters), at a public offering price per share of $28.85.
The Company will receive net proceeds of approximately $73.8
million from the Offering after deducting underwriting discounts
and commissions and estimated offering expenses payable by the
Company. In addition, Accelerate Diagnostics has granted the
underwriters of the offering a 30-day option to purchase up to an
additional 412,500 shares of its common stock at the public
offering price, less the underwriting discounts and commissions.
The Offering was made to the Companys effective automatic shelf
registration statement on Form S-3 (Registration Statement No.
333-217297) previously filed with the Securities and Exchange
Commission and a prospectus supplement. The foregoing is only a
brief description of the terms of the Underwriting Agreement,
does not purport to be a complete statement of the rights and
obligations of the parties under the Underwriting Agreement and
the transactions contemplated thereby, and is qualified in its
entirety by reference to the Underwriting Agreement that is
attached hereto as Exhibit 1.1. A copy of the opinion of Snell
Wilmer L.L.P. relating to the legality of the issuance and sale
of the Shares is attached hereto as Exhibit 5.1.
On May 15, 2017, the Company issued a press release announcing
the closing of the Offering. A copy of the Companys press release
is attached hereto as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated herein by reference in its entirety.
| Item 9.01 | Financial Statements and Exhibits |
| (d) |
Exhibits.The following material is filed as an exhibit to this Current Report on Form 8-K: |
| Exhibit | |||
| Number | Description | ||
| 1.1 |
Underwriting Agreement, dated May 9, 2017, by and between |
||
| 5.1 |
Opinion of Snell Wilmer L.L.P. |
||
| 23.1 |
Consent of Snell Wilmer L.L.P. (included in Exhibit 5.1) |
||
| 99.1 |
Press Release, dated May 15, 2017 |
||
About Accelerate Diagnostics, Inc. (NASDAQ:AXDX)
Accelerate Diagnostics, Inc. is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types. The Company is focused on the development of a rapid diagnostic platform, the Accelerate ID/AST System (ID/AST System or Accelerate ID/AST System), intended for the diagnosis of infectious pathogens. The ID/AST System utilizes genotypic technology to identify (ID) infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic. The ID/AST System features walk-away automation and consists of a fixed instrument and single-use test kit. Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Recent Trading Information
Accelerate Diagnostics, Inc. (NASDAQ:AXDX) closed its last trading session up +0.65 at 28.10 with 297,450 shares trading hands.
