Exagen Inc. just filed a prospectus, suggesting it plans to soon issue some securities

Exagen Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:

USE OF PROCEEDS

We estimate that we will receive net proceeds of approximately $56.3 million from the sale of 3,700,000 shares of common stock offered by us
in this offering, or approximately $64.8 million if the underwriters exercise in full their option to purchase up to an additional 555,000 shares of common stock, after deducting the underwriting discounts and commissions and estimated
offering expenses payable by us.

We currently intend to use the n et proceeds of this offering for the development of Multi-omics capabilities,
including build out of our clinical laboratory, advancement of our product pipeline, including to support development of tests for fibromyalgia, RA, thrombosis and lupus nephritis, enhancement of intellectual property protection for our
technologies, and for working capital and other general corporate purposes.

We may also use a portion of the net proceeds to in-license, acquire, or invest in complementary businesses, technologies, products or assets. However, we have no current commitments or obligations to do so.

The amounts and timing of our actual expenditures will depend on numerous factors, including the factors described under “Risk Factors” in
this prospectus supplement and in the documents incorporated by reference herein, as well as the amount of cash used in our operations. We may find it necessary or advisable to use the net proceeds for other purposes, and we will have broad
discretion in the application of the net proceeds. Pending the uses described above, we plan to invest the net proceeds from this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of
deposit or direct or guaranteed obligations of the U.S. government.

 

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The above information was disclosed in a filing to the SEC. To see the filing, click here.

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