OCUL - Ocular Therapeutix™ Announces Closing of Public Offering of Common Stock and Full Exercise by Underwriters of Option to Purchase Additional Shares | Benzinga
BEDFORD, Mass., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Ocular Therapeutix™, Inc. (NASDAQ:OCUL) (the "Company"), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced the closing of its previously announced underwritten public offering of 35,420,000 shares of its common stock at a public offering price of $3.25 per share, which includes 4,620,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the public offering at the public offering price, less underwriting discounts and commissions. The total gross proceeds of the public offering were approximately $115.1 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. All of the shares in the offering were sold by the Company.
Jefferies, BofA Securities and Piper Sandler & Co. acted as joint book-running managers for the offering. JMP Securities, A Citizens Company, Raymond James and H.C. Wainwright & Co. acted as co-managers for the offering.
The Company intends to use the net proceeds from this offering, together with its existing cash and cash equivalents, to fund the Phase 3 clinical development of AXPAXLI for the treatment of wet AMD, including its ongoing SOL pivotal Phase 3 clinical trial and its planned second Phase 3 clinical trial; to support its other clinical development programs; and for working capital and other general corporate purposes.
The offering was made pursuant to a shelf registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission (SEC). The offering was made only by means of a prospectus supplement and the ...