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Axonics raises additional $16.5M via common stock offering

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Axonics raises additional $16.5M via common stock offering

Axonics Modulation Technologies Inc. raised an additional $16.5 million via a common stock offering as underwriters fully exercised the overallotment option provided by the company.

The Irvine, Calif.-based medical technology company sold 750,000 additional shares at $22 apiece, increasing the total amount raised via the offering to about $117.5 million.

Axonics originally raised about $101 million from the offering, which closed on Nov. 22. The total number of shares sold is now 5,345,000.

BofA Securities and Barclays are the joint book-running managers for the offering, and Wells Fargo Securities is the lead manager.