Axonics Modulation Technologies, which is commercializing a neural implant for overactive bladder and incontinence, announced terms for its IPO on Monday.
The Irvine, CA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. Insiders intend to purchase up to $45 million of the IPO (45% of the deal). At the midpoint of the proposed range, Axonics Modulation Technologies would command a fully diluted market value of $399 million and an enterprise value of $278 million.
Axonics Modulation Technologies was founded in 2012 and plans to list on the Nasdaq under the symbol AXNX. BofA Merrill Lynch and Morgan Stanley are the joint bookrunners on the deal.
