Augmedix announces offering of 5.5M shares of common stock

Augmedix announced that it has commenced an underwritten public offering of 5.5M shares of its common stock. 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. Evercore ISI and William Blair are acting as the joint bookrunning managers for the offering. B. Riley Securities is acting as co-manager.