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Accelerate Diagnostics Launches Proposed Public Stock, Warrants Offering

NEW YORK – Accelerate Diagnostics announced on Tuesday that it will launch a proposed underwritten public offering. 

The offering will be for 4.5 million units, each consisting of one share of common stock and one warrant to purchase one share of common stock, or for certain investors, pre-funded units, with each pre-funded unit consisting of one pre-funded warrant to purchase one share of common stock and one warrant to purchase one share of common stock, Accelerate said in a statement. 

The firm expects to grant the underwriters a 30-day option to buy up to an additional 675,000 shares of common stock or additional warrants to buy up to 675,000 shares of common stock in any combination at the public offering price, it added. William Blair is acting as the sole bookrunning manager and Craig-Hallum is acting as co-manager for the offering. 

Last week, Tucson, Arizona-based Accelerate said it expects full-year 2023 revenues to be down 5 percent to $12.1 million from $12.8 million in 2022. The company finished 2023 with $13.4 million in cash and cash equivalents.