Axogen slides on surgical device maker's $124 mln stock sale

AxoGen

22/01/2026 12:36

** Shares of surgical device maker Axogen AXGN.O down 7.2% at $30.62 premarket after $124 mln overnight follow-on priced

    ** Florida-based firm late Weds announced 4 mln shares at $31

    ** Offering size increased from $85 mln, and priced at 6.1% discount to stock's last sale

    ** It intends to use net offering proceeds for early payoff and termination of term loan facility with Oberland Capital, working capital, capex and other purposes

    ** Wells Fargo and Mizuho lead
    joint bookrunners

** Co has 46.1 mln shares outstanding

** The U.S. FDA last month approved co's nerve repair graft, paving the way for up to 12 years of potential market exclusivity

** Through Weds close, AXGN shares rallied ~83% over the past three months

    ** All 10 analysts covering the stock are bullish and their median PT is $38, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))