EYES - Second Sight Medical Products to acquire Nano Precision Medical in all-stock deal

Second Sight Medical Products (NASDAQ:EYES) will acquire Nano Precision Medical (NPM) and merge it with a wholly-owned subsidiary in an all-stock transaction. EYES will issue ~134M shares to acquire NPM. Second Sight shareholders will own ~23% of the combined firm. NPM will be the surviving company and owned by EYES. The resulting company will focus on development of innovative drug and device medical implants that treat chronic diseases with high unmet medical need. The transaction is expected to close in Q2/Q3. Prior to the merger, EYES will provide NPM with $8M for working capital and to enable acceleration of pipeline programs. The combined company will be under the leadership of NPM’s co-founder and CEO Adam Mendelsohn. In addition to advancing NPM’s drug implant portfolio, EYES will continue to explore opportunities intended to create artificial forms of useful vision for the profoundly blind. NPM, leveraging its proprietary NanoPortalTM drug implant technology,

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Second Sight Medical Products to acquire Nano Precision Medical in all-stock deal