Augmedix, Inc (AUGX) Announces Proposed 5.5M Share Offering

Augmedix, Inc. (Nasdaq: AUGX) today announced that it has commenced an underwritten public offering of 5,500,000 shares of its common stock. Augmedix intends to grant the underwriters a 30-day option to purchase an additional 15% of the shares of its common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares to be sold in the proposed offering will be sold by Augmedix.

Evercore ISI and William Blair are acting as the joint bookrunning managers for the offering. B. Riley Securities is acting as co-manager.

Augmedix currently intends to use the net proceeds from this offering, if any, together with its existing cash, cash equivalents and short-term investments: to fund increased investment in sales and marketing; for research and development and general and administrative costs as the company increases its scale; and for working capital, capital expenditures and general corporate purposes. A material portion of the net proceeds shall be allocated toward the acceleration of Augmedix’s product roadmap, which includes, but is not limited to, its offerings for use in the emergency department care setting.

The offering is being made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-264337) that became effective upon filing with the Securities and Exchange Commission (“SEC”) on May 6, 2022 and the base prospectus contained therein. A preliminary prospectus supplement and accompanying base prospectus relating to the offering and the shares of common stock being offered will be filed with the SEC. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents Augmedix has filed with the SEC for more complete information about Augmedix and this offering. Copies of the registration statement, the preliminary prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or, when available, by contacting: Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 888-474-0200, or by email at [email protected]; William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687 or by email at [email protected]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of Augmedix, which is made only by means of a prospectus supplement and related base prospectus, nor will there be any sale of these securities in any state 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.

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