Eyenovia Prices Public Offering of Common Stock
December 19 2018 - 8:05AM
Eyenovia, Inc. (“Eyenovia” or the “Company”) (NASDAQ: EYEN), a
clinical stage ophthalmic biopharmaceutical company developing a
pipeline of microdose therapeutics utilizing its patented
piezo-print technology, has priced its underwritten public offering
of 1,200,000 shares of common stock at an offering price of $2.45
per share. In addition, Eyenovia has granted the underwriter a
45-day option to purchase up to an additional 180,000 shares to
cover over-allotments, if any. All of the shares are being offered
by the Company.
The Company expects to receive gross proceeds
from the offering, excluding the exercise of the over-allotment
option, if any, of approximately $2.9 million, excluding
underwriting discounts and commissions and other offering-related
expenses. Assuming the full exercise of the over-allotment option,
the gross proceeds may reach approximately $3.4 million.
The Company intends to use the net proceeds from
the offering to initiate Phase III clinical trials for MicroPine
and MicroProst, complete formulation work for each development
program, and for general corporate purposes, including working
capital. The offering is expected to close on or about December 21,
2018, subject to the satisfaction of customary closing
conditions.
National Securities Corporation, a wholly owned
subsidiary of National Holdings Corporation (NASDAQ: NHLD) is
acting as sole book-running manager for the offering.
A registration statement on Form S-1 relating to
the shares of common stock being offered was filed with the
Securities and Exchange Commission (the “SEC”) and is effective.
Copies of the final prospectus relating to this offering may be
obtained, when available, by request to the offices of National
Securities Corporation, Attention: Christopher Passarelli, 200
Vesey Street, 25th Floor, New York, New York 10281, telephone:
(212) 417-8164 or by email at
prospectusrequest@nationalsecurities.com; or on the SEC’s website
at http://www.sec.gov.
This announcement shall not constitute
an offer to sell or a solicitation of an offer to buy these
securities, nor shall there be any offer or sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful.
About Eyenovia, Inc.
Eyenovia, Inc. (NASDAQ: EYEN) is a
specialty biopharmaceutical company building a portfolio of next
generation topical eye treatments based on its proprietary delivery
and formulation platform for microdosing. Eyenovia’s pipeline is
currently focused on the late-stage development of microdosed
medications for myopia progression, glaucoma, mydriasis and other
eye diseases.
Forward-Looking Statements
Except for historical information, all of the
statements, expectations, and assumptions contained in this press
release are forward-looking statements. Forward-looking statements
include, but are not limited to, statements that express our
intentions, beliefs, expectations, strategies, predictions or any
other statements relating to our future activities or other future
events or conditions. These statements are based on current
expectations, estimates and projections about our business based,
in part, on assumptions made by management. These statements are
not guarantees of future performance and involve risks,
uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may, and are likely to,
differ materially from what is expressed or forecasted in the
forward-looking statements due to numerous factors discussed from
time to time in documents which we file with the SEC. In addition,
such statements could be affected by risks and uncertainties
related to, among other things, market conditions, the satisfaction
of customary closing conditions for the proposed offering, and
other risks and uncertainties described in the registration
statement filed with the SEC. Any forward-looking statements speak
only as of the date on which they are made, and except as may be
required under applicable securities laws, we do not undertake any
obligation to update any forward-looking statements.
Company Contact:Eyenovia, Inc. John
GandolfoChief Financial Officerjgandolfo@eyenoviabio.com
Investor Contact:The Ruth GroupTram Bui /
Alexander LoboPhone: 646-536-7035/7037tbui@theruthgroup.com /
alobo@theruthgroup.com
Media Contact:The Ruth GroupKirsten
Thomas508-280-6592kthomas@theruthgroup.com
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