Exagen drops on $60 mln equity raise

Exagen

23/03/2021 12:37

** Exagen Inc  XGN.O  down ~15% premarket as co raises
equity - stock set to fall for 4th straight session
    ** Diagnostics provider for autoimmune diseases sells 3.7
mln shares at $16.25, raises $60 mln  urn:newsml:reuters.com:*:nGNX6Kywyh
    ** Offering prices at 4.6% discount to stock's Mon close
    ** Cowen, William Blair, Cantor leading the offering
    ** XGN has ~12.7 mln shares outstanding and ~5.4 mln of free
float, per Refinitiv data
    ** Shares up ~45% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))