Tucson-based Accelerate Diagnostics Inc. says it has raised $109 million with a secondary public offering of stock.
The company, which is commercializing a blood-test system to rapidly identify bacterial and fungal infections, said it sold more than 6.4 million shares of common stock Tuesday at a price per share of $17.00. The sale includes 838,235 shares issued and sold to the offering underwriters, who fully exercised their options to purchase additional shares of stock, the company
Accelerate said it had gross proceeds of about $109.3 million before deducting underwriting commissions and discounts, and offering expenses. The company says it will use the net proceeds from the offering for general corporate purposes.
J.P. Morgan Securities LLC acted as lead book-running manager for the offering, with Piper Jaffray & Co. William Blair & Company LLC and BTIG LLC were co-managers for the offering, the company said.
