EyePoint Pharma prices $20-million stock offering
EyePoint Pharmaceuticals (NASDAQ:EYPT) priced a public offering of 10,526,500 of its common shares at a price of $1.90 each to raise about $20-million.
EyePoint also granted underwriters a 30-day option to purchase up to an additional 1,578,975 shares at the same price to meet demand.
Net proceeds will be used for the commercialization of DEXYCU 9% intraocular suspension and YUTIQ three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and for general corporate purposes. Closing is set for April 1.
Guggenheim Securities is acting as sole book-running manager for the offering, with H.C. Wainwright and Laidlaw (UK) as co-managers.