Axogen prices $208.7M stock offering to fund BioCircuit acquisition

Axogen, Inc. (NASDAQ: AXGN) has priced an underwritten public offering of 4,910,000 shares of common stock at $42.50 per share, according to a company statement. The gross proceeds are expected to total approximately $208.7 million, before underwriting discounts, commissions, and other expenses.

The company has also granted underwriters a 30-day option to purchase up to an additional 736,500 shares at the public offering price. The offering is expected to close on Sept. 11, 2026, subject to customary closing conditions.

Axogen said it intends to use substantially all of the net proceeds to fund the cash consideration for its previously announced acquisition of BioCircuit Technologies, Inc., along with related fees and expenses. Any remaining proceeds would be directed toward general corporate purposes, including working capital and capital expenditures.

The offering is not conditioned on the completion of the BioCircuit acquisition. If that deal does not close, Axogen said the proceeds would be used for general corporate purposes.

BofA Securities, Jefferies, and Wells Fargo Securities are acting as lead book-running managers. Mizuho Securities USA is serving as a bookrunner, and Lake Street Capital Markets is acting as co-manager.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission on Jan. 21, 2026.

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