Axonics Modulation Technologies Plans $100 Million IPO for November 1st (AXNX)

Axonics Modulation Technologies (AXNX) expects to raise $100 million in an initial public offering (IPO) on Thursday, November 1st, IPO Scoop reports. The company will issue 6,700,000 shares at a price of $14.00-$16.00 per share.

In the last 12 months, Axonics Modulation Technologies generated $140,000 in revenue and had a net loss of $24.2 million. Axonics Modulation Technologies has a market-cap of $379.5 million.

BofA Merrill Lynch and Morgan Stanley acted as the underwriters for the IPO and Wells Fargo Securities and SunTrust Robinson Humphrey were co-managers.

Axonics Modulation Technologies provided the following description of their company for its IPO: ”  We are a medical technology company focused on the design, development, and commercialization of innovative and minimally invasive sacral neuromodulation, or SNM, solutions. SNM therapy is primarily used to treat patients with overactive bladder, or OAB, fecal incontinence, or FI, and urinary retention, or UR. Our proprietary rechargeable SNM system, or our r-SNM System, delivers mild electrical pulses to the targeted sacral nerve in order to restore normal communication to and from the brain to reduce the symptoms of OAB, FI, and UR. “.

Axonics Modulation Technologies was founded in 2012 and has 72 employees. The company is located at 26 Technology Drive, Irvine, CA 92618, US and can be reached via phone at (949) 396-6322 or on the web at http://www.axonicsmodulation.com.

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