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ACCELERATE DIAGNOSTICS, INC.

(AXDX)
  Report
Delayed Nasdaq  -  04:00 2022-12-02 pm EST
0.7500 USD   -9.18%
11/17Certain Warrants of Accelerate Diagnostics, Inc. are subject to a Lock-Up Agreement Ending on 17-NOV-2022.
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11/17Certain Stock Options of Accelerate Diagnostics, Inc. are subject to a Lock-Up Agreement Ending on 17-NOV-2022.
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11/17Certain Common Stock of Accelerate Diagnostics, Inc. are subject to a Lock-Up Agreement Ending on 17-NOV-2022.
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ACCELERATE DIAGNOSTICS, INC : Other Events, Financial Statements and Exhibits (form 8-K)

08/23/2022 | 04:13pm EST
Item 8.01. Other Events.



On August 23, 2022, Accelerate Diagnostics, Inc. (the "Company") closed an underwritten public offering (the "Offering") of 17,500,000 shares of its common stock, par value $0.001 per share (the "Shares"). The Shares were issued and sold pursuant to an underwriting agreement (the "Underwriting Agreement"), dated August 18, 2022, by and between the Company and William Blair & Company, L.L.C., as representative of the several underwriters named therein (collectively, the "Underwriters"), at a public offering price per share of $2.00. The Company will receive net proceeds of approximately $32.2 million from the Offering after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company has granted the underwriters of the Offering a 30-day option to purchase up to an additional 2,625,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions.

The Offering was made pursuant to the Company's effective Registration Statement on Form S-3 (File No. 333-252470) previously filed with the Securities and Exchange Commission on January 27, 2021 and a prospectus supplement, dated August 18, 2022, relating to the Offering. The foregoing is only a brief description of the terms of the Underwriting Agreement, does not purport to be a complete statement of the rights and obligations of the parties under the Underwriting Agreement and the transactions contemplated thereby, and is qualified in its entirety by reference to the Underwriting Agreement that is attached hereto as Exhibit 1.1. A copy of the opinion of Snell & Wilmer L.L.P. relating to the legality of the issuance and sale of the Shares is attached hereto as Exhibit 5.1.

On August 17, 2022, the Company issued a press release announcing the launch of the Offering. A copy of the Company's press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

On August 18, 2022, the Company issued a press release announcing the pricing of the Offering. A copy of the Company's press release is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

Item 9.01 Financial Statements and Exhibits.





 (d) Exhibits.




Exhibit
Number     Description
  1.1        Underwriting Agreement, dated August 18, 2022, by and between
           Accelerate Diagnostics, Inc. and William Blair & Company, L.L.C., as
           representative of the several underwriters named therein

  5.1        Opinion of Snell & Wilmer L.L.P.

  23.1       Consent of Snell & Wilmer L.L.P. (included in Exhibit 5.1)

  99.1       Press Release, dated August 17, 2022

  99.2       Press Release, dated August 18, 2022

104        Cover Page Interactive Data File (cover page XBRL tags are embedded
           within the Inline XBRL document)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2022 12,7 M - -
Net income 2022 -60,3 M - -
Net Debt 2022 - - -
P/E ratio 2022 -0,99x
Yield 2022 -
Capitalization 74,3 M 74,3 M -
Capi. / Sales 2022 5,88x
Capi. / Sales 2023 4,35x
Nbr of Employees 220
Free-Float 73,2%
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Number of Analysts 2
Last Close Price 0,75 $
Average target price 2,00 $
Spread / Average Target 167%
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Managers and Directors
Jack Phillips President, Chief Executive Officer & Director
Steven Reichling Chief Financial & Accounting Officer
John Patience Chairman
Lawrence Mertz Chief Technology Officer
Jack W. Schuler Independent Director
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