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Accelerate Prices $35M Public Stock Offering

NEW YORK — Accelerate Diagnostics late Thursday priced a $35 million public offering of its common stock.

The Tucscon, Arizona-based in vitro diagnostics company will offer 17.5 million shares of its stock at $2.00 per share. It also granted the sale underwriters a 30-day option to buy up to 2,625,000 shares of common shares at the public offering price, minus underwriting discounts and commissions.

Accelerate plans to use the $35 million in gross proceeds for general corporate purposes and commercialization efforts. The offering is expected to close by Aug. 23.

William Blair is the lead bookrunning manager for the sale, with Craig-Hallum Capital Group co-managing the offering.