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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/23/24 Accelerate Diagnostics, Inc. 424B1 1:1M Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: 424B1 Prospectus - Info Previously Omitted HTML 1.00M
tm2332697-10_424b1 - none - 10.0469402s |
| | |
Per Unit(1)
|
| |
Per Pre-Funded
Unit(2) |
| |
Total(3)
|
| |||||||||
Public offering price
|
| | | $ | 1.50 | | | | | | 1.4900 | | | | | $ | 10,277,539.58 | | |
Underwriting discounts and commissions to be paid by us
|
| | | $ | 0.09 | | | | | | 0.0894 | | | | | $ | 616,652.37 | | |
Proceeds, before expenses, to us(4)(5)
|
| | | $ | 1.41 | | | | | | 1.4006 | | | | | $ | 9,660,887.21 | | |
| | | | | i | | | |
| | | | | ii | | | |
| | | | | 1 | | | |
| | | | | 4 | | | |
| | | | | 9 | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| | | | | 42 | | | |
| | | | | 43 | | | |
| | | | | 44 | | | |
| | | | | 46 | | | |
| | | | | 50 | | | |
| | | | | 53 | | | |
| | | | | 57 | | | |
| | | | | 67 | | | |
| | | | | 69 | | | |
| | | | | 75 | | | |
| | | | | 81 | | | |
| | | | | 81 | | | |
| | | | | 81 | | | |
| | | | | 83 | | |
| | |
Nine Months Ended
September 30, |
| |
Year Ended
December 31, |
| ||||||||||||||||||||||||
| | | | |
2022
|
| |
2022
|
| |
2021
|
| |
2020
|
| ||||||||||||||||
| | |
(unaudited)
|
| |
(unaudited)
|
| | | | | | | | | | | | | | | | | | | ||||||
| | |
(In thousands, except per share amounts)
|
| |||||||||||||||||||||||||||
Statement of Operations Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sales
|
| | | $ | 9,032 | | | | | $ | 9,780 | | | | | $ | 12,752 | | | | | $ | 11,782 | | | | | $ | 11,165 | | |
Gross profit (loss)
|
| | | | 1,917 | | | | | | 2,462 | | | | | | 3,303 | | | | | | (381) | | | | | | 4,459 | | |
Loss from operations
|
| | | | (43,298) | | | | | | (48,845) | | | | | | (62,805) | | | | | | (71,560) | | | | | | (63,700) | | |
Net loss before income taxes
|
| | | | (48,334) | | | | | | (47,884) | | | | | | (62,570) | | | | | | (77,657) | | | | | | (78,203) | | |
Net loss
|
| | | $ | (48,620) | | | | | $ | (47,884) | | | | | $ | (62,493) | | | | | $ | (77,702) | | | | | $ | (78,208) | | |
Net loss per share: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic and Diluted (unaudited)
|
| | | $ | (4.13) | | | | | $ | (6.21) | | | | | $ | (7.61) | | | | | $ | (12.59) | | | | | $ | (13.96) | | |
| | |
As of
September 30, |
| |
As of December 31,
|
| ||||||||||||
| | | | |
2022
|
| |
2021
|
| ||||||||||
| | |
(unaudited)
|
| | | | | | | | | | | | | |||
| | |
(In thousands)
|
| |||||||||||||||
Balance Sheet Data: | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 20,162 | | | | | $ | 34,905 | | | | | $ | 39,898 | | |
Total assets
|
| | | | 39,324 | | | | | | 65,015 | | | | | | 83,047 | | |
Total liabilities
|
| | | | 74,357 | | | | | | 87,279 | | | | | | 118,118 | | |
Total stockholders’ deficit
|
| | | | (35,033) | | | | | | (22,264) | | | | | | (35,071) | | |
| | |
Years Ended December 31,
|
| |||||||||||||||
(in thousands, except per share data)
|
| |
2022
|
| |
2021
|
| |
2020
|
| |||||||||
Net loss
|
| | | $ | (62,493) | | | | | $ | (77,702) | | | | | $ | (78,208) | | |
Net loss per share – basic and diluted
|
| | | $ | (0.76) | | | | | $ | (1.26) | | | | | $ | (1.40) | | |
Shares used in the calculation of net loss per share – basic and diluted
|
| | | | 82,161 | | | | | | 61,727 | | | | | | 56,010 | | |
| | |
Years Ended December 31,
|
| |||||||||||||||
(in thousands, except per share data)
|
| |
2022
|
| |
2021
|
| |
2020
|
| |||||||||
Net loss
|
| | | $ | (62,493) | | | | | $ | (77,702) | | | | | $ | (78,208) | | |
Net loss per share attributable to common stockholders – basic and diluted
|
| | | $ | (7.61) | | | | | $ | (12.59) | | | | | $ | (13.96) | | |
Shares used in the calculation of net loss per share – basic and diluted
|
| | | | 8,216 | | | | | | 6,173 | | | | | | 5,601 | | |
|
Public offering price per Unit
|
| | | | | | | | | $ | 1.50 | | |
|
Net tangible book value per share as of September 30, 2023
|
| | | $ | (2.42) | | | | | | | | |
|
Increase per share attributable to the offering
|
| | | $ | 1.12 | | | | | | | | |
|
As adjusted net tangible book value per share after the offering
|
| | | | | | | | | $ | (1.30) | | |
|
Dilution per share to new investors participating in the offering
|
| | | | | | | | | $ | 2.80 | | |
| | |
Actual
(unaudited) |
| |
As
Adjusted |
| ||||||
| | |
(in thousands except per share data)
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 20,162 | | | | | $ | 29,180 | | |
Debt, including current portion: | | | | | | | | | | | | | |
Convertible notes
|
| | | $ | 66,944 | | | | | $ | 66,944 | | |
Debt premium, unamortized debt discount and debt issuance costs, net
|
| | | | (32,891) | | | | | | (32,891) | | |
Convertible notes, net
|
| | | | 34,053 | | | | | | 34,053 | | |
Stockholders’ deficit: | | | | | | | | | | | | | |
Preferred stock, par value $0.001 per share; 5,000,000 shares authorized; 0 shares issued and outstanding
|
| | | | — | | | | | | — | | |
Common stock, par value $0.001 per share; 450,000,000 shares authorized, 14,504,695 shares issued and outstanding, actual, 20,020,462 shares issued and outstanding, as adjusted(2)
|
| | | | 14 | | | | | | 14 | | |
Contributed capital(1)
|
| | | | 666,239 | | | | | | 675,257 | | |
Treasury stock
|
| | | | (45,067) | | | | | | (45,067) | | |
Accumulated deficit
|
| | | | (655,859) | | | | | | (655,859) | | |
Accumulated other comprehensive loss
|
| | | | (360) | | | | | | (360) | | |
Total stockholders’ deficit
|
| | | | (35,033) | | | | | | (26,015) | | |
Total capitalization
|
| | | $ | (980) | | | | | $ | 8,038 | | |
Name
|
| |
Age
|
| |
Position
|
|
Mark Black | | |
55
|
| | Director | |
Wayne C. Burris | | |
68
|
| | Director | |
Louise L. Francesconi | | |
70
|
| | Director | |
Hany Massarany | | |
62
|
| | Chairman of the Board of Directors | |
Larry Mertz | | |
61
|
| | Chief Technology Officer | |
Marran H. Ogilvie | | |
54
|
| | Director | |
David Patience | | |
38
|
| | Chief Financial Officer | |
John Patience | | |
76
|
| | Director | |
Jack Phillips | | |
58
|
| |
President, Chief Executive Officer and Director
|
|
Jenny Regan | | |
61
|
| | Director | |
Jack Schuler | | |
83
|
| | Director | |
Matthew W. Strobeck, Ph.D. | | |
51
|
| | Director | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Stock
Awards ($)(2) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||
Jack Phillips, President and CEO
|
| | | | 2023 | | | | | | 595,000(1) | | | | | | 2,409,105 | | | | | | — | | | | | | 3,004,105 | | |
| | | | | 2022 | | | | | | 595,000(1) | | | | | | 1,499,707 | | | | | | — | | | | | | 2,094,707 | | |
David Patience, CFO(3)
|
| | | | 2023 | | | | | | 285,272 | | | | | | 871,432 | | | | | | — | | | | | | 1,156,704 | | |
| | | | | 2022 | | | | | | 216,058 | | | | | | 137,343 | | | | | | — | | | | | | 353,401 | | |
Larry Mertz, CTO(4)
|
| | | | 2023 | | | | | | 335,939 | | | | | | 616,224 | | | | | | — | | | | | | 952,163 | | |
| | | | | 2022 | | | | | | 329,231 | | | | | | 137,343 | | | | | | — | | | | | | 466,574 | | |
| | | | | | | | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Number of
securities underlying unexercised options (#) exercisable (#) |
| |
Number of
securities underlying unexercised options (#) unexercisable |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares or Units of Stock That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market Value of Unearned Shares or Units of Stock That Have Not Vested ($) |
| |||||||||||||||||||||||||||
Jack Phillips
|
| | | | 8/6/2019 | | | | | | 108,326 | | | | | | 16,665(1) | | | | | | 170.00 | | | | | | 8/6/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jack Phillips
|
| | | | 1/1/2020 | | | | | | 2,526 | | | | | | — | | | | | | 169.00 | | | | | | 1/1/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Jack Phillips
|
| | | | 2/1/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,000(2) | | | | | | 7,840 | | | | | | — | | | | | | — | | |
Jack Phillips
|
| | | | 4/4/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 88,806(3) | | | | | | 348,120 | | | | | | — | | | | | | — | | |
Jack Phillips
|
| | | | 6/26/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 313,157(4) | | | | | | 1,227,575 | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 11/18/2017 | | | | | | 2,250 | | | | | | — | | | | | | 188.00 | | | | | | 11/8/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 3/7/2018 | | | | | | 51 | | | | | | — | | | | | | 259.50 | | | | | | 3/7/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 1/1/2019 | | | | | | 1,811 | | | | | | — | | | | | | 115.00 | | | | | | 1/1/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 1/1/2019 | | | | | | 4,500 | | | | | | — | | | | | | 115.00 | | | | | | 1/1/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 1/1/2020 | | | | | | 1,516 | | | | | | — | | | | | | 169.00 | | | | | | 1/1/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 3/24/2020 | | | | | | 357 | | | | | | — | | | | | | 59.30 | | | | | | 3/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 3/24/2020 | | | | | | 600 | | | | | | 400(5) | | | | | | 59.30 | | | | | | 3/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 4/16/2020 | | | | | | 1,000 | | | | | | | | | | | | 83.60 | | | | | | 4/16/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 3/7/2022 | | | | | | — | | | | | | 4,000(6) | | | | | | 23.40 | | | | | | 3/7/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 2/26/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,500(7) | | | | | | 9,800 | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 4/1/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000(8) | | | | | | 196,000 | | | | | | — | | | | | | — | | |
David Patience
|
| | | | 6/18/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 61,184(9) | | | | | | 239,841 | | | | | | — | | | | | | — | | |
Larry Mertz
|
| | | | 5/20/2021 | | | | | | 6,666 | | | | | | 3,334(10) | | | | | | 70.90 | | | | | | 5/20/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Larry Mertz
|
| | | | 5/20/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,000(11) | | | | | | 3,920 | | | | | | — | | | | | | — | | |
Larry Mertz
|
| | | | 5/20/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 283(11) | | | | | | 1,109 | | | | | | — | | | | | | — | | |
Larry Mertz
|
| | | | 4/4/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,164(3) | | | | | | 28,083 | | | | | | — | | | | | | — | | |
Larry Mertz
|
| | | | 6/18/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 66,353(9) | | | | | | 260,104 | | | | | | | | | | | | | | |
Name
|
| |
Stock
Awards(1) ($) |
| |
Total
($) |
| ||||||
Mark Black
|
| | | | 233,684*(2)(3)(5) | | | | | | 233,684 | | |
Wayne Burris
|
| | | | 231,315*(2)(4) | | | | | | 231,315 | | |
Louise L. Francesconi
|
| | | | 231,315(2)(4) | | | | | | 231,315 | | |
Hany Massarany
|
| | | | 231,315(2)(4) | | | | | | 231,315 | | |
Marran Ogilvie
|
| | | | 233,684*(2)(3)(5) | | | | | | 233,684 | | |
John Patience
|
| | | | 231,315*(2)(4) | | | | | | 231,315 | | |
Name
|
| |
Stock
Awards(1) ($) |
| |
Total
($) |
| ||||||
Jennifer Regan
|
| | | | 233,684(2)(3)(5) | | | | | | 233,684 | | |
Jack Schuler
|
| | | | 231,315(2)(4) | | | | | | 231,315 | | |
Matthew W. Strobeck, Ph.D.
|
| | | | 231,315*(2)(4) | | | | | | 231,315 | | |
Thomas Brown
|
| | | | 4,684(6) | | | | | | 4,684 | | |
Charles Watts
|
| | | | 4,684(6) | | | | | | 4,684 | | |
Name
|
| |
Option
Awards |
| |
Stock
Awards |
| ||||||
Mark Black
|
| | | | — | | | | | | 31,578* | | |
Wayne Burris
|
| | | | — | | | | | | 44,744* | | |
Louise L. Francesconi
|
| | | | 9,287 | | | | | | 31,578 | | |
Hany Massarany
|
| | | | 9,378 | | | | | | 34,704 | | |
Marran Ogilvie
|
| | | | — | | | | | | 31,578* | | |
John Patience
|
| | | | 11,266 | | | | | | 39,172* | | |
Jennifer Regan
|
| | | | — | | | | | | 31,578 | | |
Jack Schuler
|
| | | | 10,448 | | | | | | 31,578 | | |
Matthew W. Strobeck, Ph.D.
|
| | | | 11,266 | | | | | | 39,172* | | |
Equity Compensation Plan
|
| ||||||||||||||||||
Plan category
|
| |
Number of securities to be
issued upon exercise of outstanding options and release of restricted stock units |
| |
Weighted-average
exercise price of outstanding options, warrants and rights(1) |
| |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in the 1st column)(3) |
| |||||||||
Equity compensation plans approved by security holders
|
| | | | 1,609,275(2) | | | | | $ | 148.40 | | | | | | 1,288,285 | | |
Equity compensation plans not approved
by security holders |
| | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 1,609,275 | | | | | $ | 148.40 | | | | | | 1,288,285 | | |
Name of Beneficial Owner
|
| |
Amount of
Beneficial Ownership |
| |
Percentage
of Class |
| ||||||
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Mark Black(1)
|
| | | | — | | | | | | * | | |
Thomas D. Brown(2)
|
| | | | 12,249 | | | | | | * | | |
Wayne C. Burris(3)
|
| | | | 10,649 | | | | | | * | | |
Louise L. Francesconi(4)
|
| | | | 16,090 | | | | | | * | | |
Hany Massarany(5)
|
| | | | 10,636 | | | | | | * | | |
Marran H. Ogilvie(6)
|
| | | | — | | | | | | * | | |
John Patience(7)
|
| | | | 699,876 | | | | | | 4.7% | | |
Jack Phillips(8)
|
| | | | 177,636 | | | | | | 1.2% | | |
Jenny Regan(9)
|
| | | | — | | | | | | * | | |
Jack Schuler(10)
|
| | | | 6,308,238 | | | | | | 41.3% | | |
Matthew W. Strobeck, Ph.D.(11)
|
| | | | 244,098 | | | | | | 1.6% | | |
Charles Watts, M.D.(12)
|
| | | | 7,594 | | | | | | * | | |
David Patience(13)
|
| | | | 24,376 | | | | | | * | | |
Larry Mertz(14)
|
| | | | 59,235 | | | | | | * | | |
All executive officers and directors as a group (14 persons)(15)
|
| | | | 7,570,678 | | | | | | 48.9% | | |
Underwriters
|
| |
Number
of Units |
| |
Number of
Pre-Funded Units |
| ||||||
William Blair & Company, L.L.C.
|
| | | | 4,688,402 | | | | | | 1,143,158 | | |
Craig-Hallum Capital Group LLC
|
| | | | 827,365 | | | | | | 207,734 | | |
Total
|
| | | | 5,515,767 | | | | | | 1,344,892 | | |
| | |
Per Unit(1)
|
| |
Per Pre-Funded
Unit(2) |
| |
Without Option
|
| |
With Option
|
| ||||||||||||
Public offering price
|
| | | $ | 1.50 | | | | | $ | 1.4900 | | | | | $ | 10,277,539.58 | | | | | $ | 11,821,186.58 | | |
Underwriting discounts and commissions
|
| | | $ | 0.09 | | | | | $ | 0.0894 | | | | | $ | 616,652.37 | | | | | $ | 709,271.19 | | |
Proceeds, before expenses, to us(3)
|
| | | $ | 1.41 | | | | | $ | 1.4006 | | | | | $ | 9,660,887.21 | | | | | $ | 11,111,915.39 | | |
This ‘424B1’ Filing | Date | Other Filings | ||
---|---|---|---|---|
6/28/28 | ||||
5/31/28 | ||||
12/15/26 | ||||
7/10/26 | ||||
6/18/26 | ||||
4/1/26 | ||||
7/10/25 | ||||
6/26/25 | ||||
6/18/25 | ||||
6/15/25 | ||||
4/4/25 | ||||
4/1/25 | ||||
3/24/25 | ||||
3/7/25 | ||||
2/26/25 | ||||
2/1/25 | ||||
8/6/24 | ||||
6/28/24 | ||||
5/29/24 | ||||
5/20/24 | ||||
4/4/24 | ||||
3/7/24 | ||||
2/26/24 | ||||
Filed as of: | 1/23/24 | |||
Filed on: | 1/22/24 | EFFECT | ||
1/19/24 | EFFECT | |||
1/8/24 | 8-K | |||
1/5/24 | ||||
12/31/23 | ||||
12/12/23 | ||||
10/18/23 | ||||
10/3/23 | ||||
10/1/23 | ||||
9/30/23 | 10-Q | |||
6/30/23 | 10-Q | |||
6/28/23 | 4 | |||
6/22/23 | 4, 4/A | |||
6/9/23 | 4, 8-K | |||
5/29/23 | 4 | |||
5/22/23 | 4, 8-K | |||
4/1/23 | 3, 3/A, 4 | |||
3/31/23 | 10-K, 10-Q | |||
3/15/23 | 4 | |||
2/22/23 | ||||
2/21/23 | 8-K | |||
12/31/22 | 10-K, SD | |||
10/21/22 | 8-K | |||
9/30/22 | 10-Q, 10-Q/A | |||
7/1/22 | ||||
6/30/22 | 10-Q, 10-Q/A, 8-K | |||
6/23/22 | 3 | |||
5/20/22 | S-8, S-8 POS | |||
3/31/22 | 10-Q, 10-Q/A | |||
2/2/22 | 3, 8-K | |||
2/1/22 | 4 | |||
12/31/21 | 10-K, DEF 14A, PRE 14A, SD | |||
9/6/21 | ||||
8/6/21 | ||||
6/17/21 | ||||
3/24/21 | ||||
2/1/21 | 4, CORRESP, UPLOAD | |||
1/1/21 | ||||
12/31/20 | 10-K, SD | |||
5/20/20 | ||||
5/1/20 | 4 | |||
2/1/20 | 4 | |||
1/31/20 | 8-K | |||
1/1/20 | 4 | |||
12/2/19 | 3, 4 | |||
8/6/19 | 3, 4 | |||
7/31/19 | ||||
12/31/17 | 10-K, SD | |||
11/2/17 | 8-K | |||
2/23/17 | 4, 4/A, 8-K | |||
6/30/15 | 10-Q | |||
2/15/14 | ||||
11/15/12 | ||||
7/7/12 | ||||
6/26/12 | 3, 4, 8-K, DEF 14A, PRE 14A | |||
List all Filings |