Aziyo Biologics Announces Closing of $14.0 Million Private Placement
09 December 2021 - 9:31AM
Aziyo Biologics, Inc. (the “Company”), a commercial-stage
regenerative medicine company focused on creating the next
generation of differentiated products and improving outcomes in
patients undergoing surgery, today announced the closing of the
previously announced private investment in public equity (PIPE)
financing. The Company received aggregate gross proceeds of
approximately $14.0 million, before deducting offering expenses.
The PIPE financing was led by a fund affiliated with Birchview
Capital, with participation from existing investors including funds
affiliated with Deerfield Management Company and HighCape Capital.
“We were pleased to see the support from Birchview
Capital and our existing investors,” said Ron Lloyd, the Company’s
President and CEO. “These proceeds will allow us to further scale
our commercial organization, generate clinical data through the
HEAL and De Novo studies and help with certain development costs
ahead of the launch of CanGaroo RM, our next generation envelope
product with antibiotics.”
Matthew Strobeck of Birchview Capital commented,
“We are pleased to be able to participate in this important
financing for Aziyo. We believe that this capital will support and
enhance the Company's regenerative medicine growth opportunities,
including products such as the CanGaroo Envelope and the SimpliDerm
acellular dermal matrix.”
The PIPE investors purchased an aggregate of
2,122,637 shares of the Company’s Class A common stock and an
aggregate of 1,179,244 shares of the Company’s Class B common stock
(which are convertible on a one-for-one basis into shares of Class
A common stock), in each case, at a price of $4.24 per share. The
Company has agreed to file a registration statement covering the
resale of the securities acquired by the investors in the private
placement.
The offer and sale of the foregoing securities were
made in a transaction not involving a public offering and have not
been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or applicable state securities laws, and have
been sold in a private placement pursuant to Regulation D of the
Securities Act. The securities issued in the private placement may
not be offered or sold in the United States absent registration or
pursuant to an exemption from the registration requirements of the
Securities Act and applicable state securities laws.
This press release does not constitute an offer to
sell or the solicitation of an offer to buy the securities, nor
shall there be any sale of the securities in any state in which
such offer or sale would be unlawful prior to the registration or
qualification under the securities laws of such state. Any offering
of the securities under the resale registration statement will only
be by means of a prospectus.
About Aziyo Biologics, Inc.
Aziyo Biologics, Inc. is a commercial-stage
regenerative medicine company focused on creating the next
generation of differentiated products and improving outcomes in
patients undergoing surgery, concentrating on patients receiving
implantable medical devices. Since its founding in 2015, the
Company has created a portfolio of commercial-stage products used
in cardiovascular, orthopedic, and reconstructive specialties. For
more information, visit www.Aziyo.com.
Forward-Looking StatementsAny
statements in this press release about the future expectations,
plans and prospects of the Company, including without limitation,
statements relating to the closing of, the amount of any proceeds
from, and the Company’s use of any proceeds from, the private
placement transaction, and other statements containing the words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“hypothesize,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “should,” “target,” “would,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors discussed in
the “Risk Factors” section of the Company’s Quarterly Report on
Form 10-Q filed with the Securities and Exchange Commission, or
SEC, on November 10, 2021, and in other filings that the Company
makes with the SEC. In addition, any forward-looking statements
included in this press release represent the Company’s views only
as of the date of its publication and should not be relied upon as
representing its views as of any subsequent date. The Company
specifically disclaims any obligation to update any forward-looking
statements included in this press release.
Media:Courtney GuyerAziyo
Biologics, Inc.PR@aziyo.com
Investors:Leigh SalvoGilmartin
Groupinvestors@aziyo.com
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