Accolade (ACCD) Announces 4.5M Share Proposed Public Offering of Common Stock

Accolade, Inc. (“Accolade”), which provides personalized, technology-enabled solutions that help people better understand, navigate, and utilize the healthcare system and their workplace benefits, today announced it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed public offering of 4,500,000 shares of its common stock. In addition, Accolade expects to grant the underwriters a 30-day option to purchase up to 675,000 additional shares of its common stock at the public offering price, less the underwriting discount. The public offering price has not yet been determined. The 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 as to the actual size or terms of the offering.

Accolade currently intends to use the net proceeds from the proposed offering for general corporate purposes, including working capital, operating expenses, capital expenditures, acquisitions and strategic investments.

Goldman Sachs & Co. LLC, Morgan Stanley, and BofA Securities are acting as joint book-running managers for the proposed offering. Piper Sandler, Credit Suisse and William Blair are acting as book-running managers. Baird, SVB Leerink, Canaccord Genuity and Academy Securities are acting as co-managers.

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