Avita Medical Limited (RCEL) to Offer Common Stock

AVITA Medical, Inc. (Nasdaq: RCEL) announced that it has commenced an underwritten registered public offering of its common stock. In addition, AVITA Medical is expected to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering on the same terms and conditions. All of the shares of common stock to be sold in the proposed offering will be offered by AVITA Medical. The proposed 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.

AVITA Medical intends to use the net proceeds from this proposed offering to fund its current product development pipeline, to pursue approvals of its products for additional indications and for general corporate purposes, which may include licensing arrangements.

Piper Sandler & Co. and Cowen and Company, LLC are acting as joint book-running managers for the proposed offering.

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