Exagen Inc. Completes $20.2 Million Public Offering with Full Underwriter Option

Deal News | May 09, 2025 | Tullis-Dickerson & Co Inc

Exagen Inc. Completes $20.2 Million Public Offering with Full Underwriter Option

Exagen Inc., a leading provider of autoimmune diagnostics, has completed its public offering of 3,350,000 shares of common stock, raising gross proceeds of approximately $20.2 million. This includes the full exercise of the underwriter's option to purchase an additional 502,500 shares at $5.25 per share. The shares were sold to the public as facilitated by the sole bookrunner, Canaccord Genuity. The offering was conducted under a shelf registration filed with the SEC, ensuring compliance with securities laws. Exagen aims to revolutionize patient care in autoimmune diseases through its advanced diagnostic solutions. The successful public offering underscores Exagen's financial strategy and commitment to expanding its innovative testing portfolio, reaffirming its role in improving clinical outcomes for patients with chronic autoimmune conditions.

Sectors

  • Biotechnology
  • Healthcare
  • Financial Services

Geography

  • United States – Exagen Inc. is based in the United States, specifically in San Diego County, California, which is central to their operations and the public offering.

Industry

  • Biotechnology – Exagen Inc. operates in biotechnology, specifically focusing on the development and provision of diagnostic solutions for autoimmune diseases.
  • Healthcare – The healthcare sector is relevant as Exagen Inc. provides testing solutions that impact patient care and clinical outcomes in autoimmune diseases.
  • Financial Services – Involvement of financial activities like public offerings and underwriter services positions this article within the financial services industry.

Financials

  • $20.2 million – Gross proceeds from Exagen Inc.'s public offering of shares.
  • $5.25 – Public offering price per share of Exagen Inc. common stock.
  • 502,500 shares – Additional shares sold through the full exercise of the underwriter’s option in Exagen Inc.'s public offering.

Participants

NameRoleTypeDescription
Exagen Inc.Target CompanyCompanyA leading provider of diagnostic solutions for autoimmune diseases, aiming to transform patient care with its flagship AVISE tests.
Canaccord Genuity LLCSole BookrunnerCompanyA financial services firm involved in the management of Exagen's public offering, facilitating the sale of stock to the public.
Tullis-Dickerson & Co Inc.PE FirmCompanyPrivate equity firm associated with Exagen Inc.
Securities and Exchange Commission (SEC)Regulatory AuthorityGovernmentThe SEC oversees public offerings to ensure compliance with securities laws in the United States.