Accelerate Diagnostics Announces Launch of Proposed Public Offering

TUCSON, Ariz., Jan. 16, 2024 /PRNewswire/ -- Accelerate Diagnostics, Inc. (NASDAQ: AXDX) (the "Company") today announced the launch of a proposed underwritten public offering of 4,500,000 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 in lieu thereof, 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, pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock and/or additional warrants to purchase up to 675,000 shares of common stock, in any combination thereof, at the public offering price, less underwriting discounts and commissions. The proposed public offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

William Blair & Company, L.L.C. is acting as the sole book-running manager for the offering and Craig-Hallum Capital Group LLC is acting as co-manager for the offering.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained from: William Blair & Company, L.L.C. at 150 North Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at [email protected].

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Accelerate Diagnostics, Inc.

Accelerate Diagnostics, Inc. is an in vitro diagnostics company dedicated to providing solutions for the global challenges of antibiotic resistance and sepsis. The Accelerate Pheno^® system and Accelerate PhenoTest^® BC kit combine several technologies aimed at reducing the time clinicians must wait to determine the most optimal antibiotic therapy for deadly infections. The FDA cleared system and kit fully automate the sample preparation steps to report phenotypic antibiotic susceptibility results in approximately 7 hours direct from positive blood cultures. Recent external studies indicate the solution offers results 1–2 days faster than existing methods, enabling clinicians to optimize antibiotic selection and dosage specific to the individual patient days earlier.

The "ACCELERATE DIAGNOSTICS" and "ACCELERATE PHENO" and "ACCELERATE PHENOTEST" and "ACCELERATE ARC" and "ACCELERATE WAVE" diamond shaped logos and marks are trademarks or registered trademarks of Accelerate Diagnostics, Inc.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements," including with respect to the proposed offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Any forward-looking statements in this statement are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include, but are not limited to, those risks and uncertainties set forth in the Company's registration statement on Form S-1 filed with the SEC and the preliminary prospectus included therein. Copies of the registration statement can be accessed by visiting the SEC website at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE Accelerate Diagnostics, Inc.