Apyx Medical Corporation priced an underwritten public offering of 2,762,431 shares of common stock at $3.62 per share, raising approximately $10 million. The offering is expected to close on or about November 19, 2025, and the company granted the underwriter a 45‑day option to purchase up to an additional 414,365 shares at the same price.
The company’s recent financials show a clear trajectory of improvement. In the third quarter of 2025, total revenue reached $12.9 million, up 12.1% from $11.5 million in the same period a year earlier, while the net loss narrowed to $2.0 million from $4.7 million in Q3 2024. In Q4 2024, the company reported a net loss of $4.6 million, a reduction from $9.6 million in Q4 2023, and announced a restructuring program that included a workforce reduction of nearly 25% and targeted annualized cost savings of about $4.3 million.
The proceeds from the offering will be directed toward working capital and general corporate purposes, with a focus on accelerating the rollout of the AYON Body Contouring System and advancing research and development for the Helium Plasma platform. AYON received FDA clearance in May 2025, launched commercially in September 2025, and is pursuing a 510(k) label expansion to include power liposuction, positioning it as a comprehensive solution for body contouring procedures. The Helium Plasma platform, marketed as Renuvion and J‑Plasma, remains a core technology that supports the company’s broader product portfolio.
CEO Charlie Goodwin emphasized the strategic importance of the capital raise, noting that “the significant cost‑cutting measures implemented during the fourth quarter of last year are reflected in our financial results for the first quarter of 2025. While the streamlining process is never easy for any business, we believe the Company is financially healthier and better positioned to be on a path to profitability.” He also highlighted the market opportunity for AYON, stating that the growing body‑contouring market, driven by patients who have lost weight on GLP‑1 drugs, presents a strong demand base for the system’s integrated technology.
Investors reacted cautiously, citing dilution from the new shares as a primary concern. The market’s focus on the dilutionary effect underscores the short‑term impact of the capital raise, even as the company’s financial trajectory and product pipeline suggest longer‑term growth potential.
Management maintains confidence in the company’s strategic direction, noting that the capital infusion will extend the cash runway and support continued investment in product development and market expansion. The company’s guidance for the full year 2025 remains unchanged, with revenue guidance of $50.5 million to $52.5 million, reflecting confidence in sustained demand for its advanced energy solutions.
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