Axogen, Inc. has entered into an agreement to acquire BioCircuit Technologies, Inc. for a total purchase price of $200 million in cash. The transaction, which is expected to close in the fourth quarter of 2026, is subject to customary closing conditions, including the spin-out of BioCircuit's electronics research and development business.
BioCircuit develops the NerveTape, an FDA-cleared device for sutureless peripheral nerve repair. Axogen intends to finance the acquisition using the net proceeds from a concurrent public offering of its common stock. The company has priced an offering of 4,910,000 shares at $42.50 per share. The underwriters have agreed to purchase the shares at $39.95 per share, resulting in gross proceeds of approximately $208.7 million before the exercise of a 30-day option to purchase an additional 736,500 shares.
The underwriters for the offering are BofA Securities, Jefferies LLC, and Wells Fargo Securities, LLC. The closing of the stock offering is expected to occur on September 11, 2026. Axogen has agreed to obtain sufficient funding to finance the acquisition within 90 days of the agreement's execution.
