AXNX - Axonics stock slides on offering of 1.75M shares

• Axonics ( NASDAQ: AXNX ) stock dropped over 3% during extended trading on Tuesday after the medical technology company launched a proposed underwritten public offering of 1.75M shares of its common stock.
• Terms of the offering are yet to be determined.
• Axonics ( AXNX ) expects to grant the underwriter a 30-day option to purchase up to an additional 262,500 shares of its common stock.
• Net proceeds from the offering  will be used for working capital and general corporate purposes, including a potential $35M milestone payment in connection with its previously announced and completed acquisition of Contura (solely to the extent that such milestone payment is finally determined to be due and payable by Axonics in accordance with the definitive agreements governing the acquisition).

For further details see: