NEW YORK – Eyenovia, Inc. (NASDAQ: NASDAQ:EYEN), a commercial-stage ophthalmic company, announced a securities purchase agreement with an institutional investor and its current largest stockholder. The deal, set for closure around July 1, 2024, involves the sale of over 7.5 million shares of common stock and equal warrants, with proceeds expected to reach approximately $5 million.
The offering price is $0.66 per share, with warrants exercisable at $0.69, starting six months post-issuance and expiring after 5.5 years. Chardan leads the placement, with Brookline Capital Markets co-managing. Eyenovia plans to allocate the net proceeds to commercialize Mydcombi and clobetasol propionate, fund a pediatric myopia study, and for general corporate purposes, which may include debt repayment.
The securities are offered under a shelf registration statement filed with and declared effective by the SEC on December 23, 2021. When available, the prospectus supplement and accompanying base prospectus will be obtainable via Chardan Capital Markets or the SEC's website.
Eyenovia specializes in ophthalmic treatments, including Mydcombi™ for mydriasis and Clobetasol Propionate Ophthalmic Suspension for post-surgical inflammation and pain. Additionally, the company is developing the Optejet® device for pediatric progressive myopia and potential out-licensing.
This news article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The sale of these securities will not be lawful in any jurisdiction where such registration or qualification is required prior to their sale.
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