Exagen Inc (XGN) Announces Proposed Public Offering of Common Stock

Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. In addition, Exagen intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares to be sold in the offering are to be sold by Exagen. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Exagen intends to use the net proceeds from the proposed offering for the development of Multi-omics capabilities, including build out of its clinical laboratory, advancement of its product pipeline, including to support development of tests for fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of intellectual property protection for its technologies, and for working capital and other general corporate purposes. Exagen may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets; however, it has no current commitments or obligations to do so.

Cowen, William Blair and Cantor are acting as joint bookrunning managers for the offering. Canaccord Genuity is also acting as bookrunning manager for the offering. BTIG is acting as lead manager for the offering.

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