RxSight, Inc. Announces Pricing of Public Offering of Common Stock
February 07 2023 - 11:45PM
(NASDAQ: RXST) – RxSight, Inc. (“RxSight”), an
ophthalmic medical device company dedicated to improving the vision
of patients following cataract surgery, announced today that it has
priced its underwritten public offering. RxSight expects to sell
4,000,000 shares of its common stock at a price to the public of
$12.50 per share. RxSight has granted the underwriter a 30-day
option to purchase up to an additional 600,000 shares of its common
stock at the public offering price, less underwriting discounts and
commissions. All of the shares are to be sold by RxSight. Before
deducting the underwriting discount and estimated offering expenses
payable by RxSight, RxSight expects to receive gross proceeds of
approximately $50.0 million, assuming no exercise of the
underwriters’ option to purchase additional shares. The offering is
expected to close on or about February 10, 2023 subject to
satisfaction of customary closing conditions. BofA Securities is
acting as the sole bookrunning manager for the offering.
RxSight intends to use the net proceeds from the offering for
continued commercial and marketing expansion, funding of product
development, research and clinical development, and for working
capital and general corporate purposes.
RxSight filed a shelf registration statement on Form S-3
relating to the shares of common stock offered in the public
offering described above with the Securities and Exchange
Commission (the "SEC") on August 8, 2022, which was declared
effective by the SEC on August 12, 2022. RxSight has filed a
preliminary prospectus supplement and accompanying prospectus
relating to the offering with the SEC on February 7, 2023. A final
prospectus supplement and accompanying prospectus relating to the
offering will also be filed with the SEC and will be available on
the SEC’s website at www.sec.gov. When available, copies of the
final prospectus supplement and the accompanying prospectus may
also be obtained from: BofA Securities, Attention: Prospectus
Department, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, by telephone at 1-800-294-1322 or by email
at dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction. The offering may be made only by
means of a prospectus supplement and accompanying prospectus.
About RxSight, Inc.RxSight, Inc. is a
commercial-stage medical technology company dedicated to improving
the vision of patients following cataract surgery. The RxSight®
Light Adjustable Lens system, comprised of the RxSight Light
Adjustable Lens® (LAL®), RxSight Light Delivery Device (LDD™) and
accessories, is the first and only commercially available
intraocular lens (IOL) technology that enables doctors to customize
and optimize visual acuity for patients after cataract surgery.
Forward-Looking StatementsThis press release
contains forward-looking statements, including statements
concerning expectations with respect to the expected completion and
timing of closing of the public offering and the anticipated use of
the net proceeds from the offering. Risks and uncertainties related
to these endeavors include, but are not limited to, risks and
uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the public
offering. Investors should review the risks and uncertainties
contained in our filings with the Securities and Exchange
Commission (“SEC”), including our Quarterly Report on Form 10-Q for
the quarter ended September 30, 2022, filed with the SEC on
November 7, 2022, in the preliminary prospectus supplement related
to the public offering filed with the SEC on February 7, 2023, and
in the final prospectus supplement to be filed with the SEC, as
well as other risks set forth in our other filings with the SEC. We
caution you that the forward-looking information presented in this
press release is not a guarantee of future events, and that actual
events may differ materially from those described in or suggested
by the forward-looking information contained in this press release.
In addition, forward-looking statements generally can be identified
by the use of forward-looking terminology such as “may,” “will,”
“should,” “could,” “would,” “expects,” “plans,” “intends,”
“anticipates,” “believes,” “estimates,” “predicts,” “projects,”
“potential,” or “continue” or the negative of such terms and other
similar terminology. Any forward-looking information presented
herein is made only as of the date of this press release, and we do
not undertake any obligation to update or revise any
forward-looking information to reflect changes in assumptions, the
occurrence of unanticipated events, or otherwise.
Company Contact:Shelley B. ThunenChief
Financial Officersthunen@rxsight.com
Investor Relations Contact:ir@rxsight.com
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