EYEN - Eyenovia to raise capital via ~$12M securities offering

2023-08-25 04:31:44 ET

• Eyenovia ( NASDAQ: EYEN ) has entered into a definitive pact with certain investors for the issuance and sale of 4,198,633 of its common stock, pre-funded warrants to purchase up to 2,252,979 shares of common stock and warrants to purchase up to 4,838,709 shares of common stock, for expected gross proceeds of ~$12M.
• The combined offering price for each share of common stock and accompanying warrant is $1.86, and the offering price for each pre-funded warrant and accompanying warrant is $1.85.
• The warrants will have an exercise price of $2.23/share, will be exercisable six months following the issuance date and will have a term of five years from the first date on which they may be exercised. The pre-funded warrants will have an exercise price of $0.01 per share, will be immediately exercisable and will remain exercisable until exercised in full.
• All of the securities in the offering are being sold by Eyenovia.
• Net proceeds from the offering will be used to fund commercialization of a post-ophthalmic surgery product with a PDUFA date in March, 2024; and will also be used for manufacturing automation activities for the Optejet device, and for working capital and general corporate purposes.
• Offering is expected to close on or about August 29, 2023.

For further details see: