EyePoint Pharmaceuticals Announces Pricing of Public Offering of Common Stock

EyePoint Pharmaceuticals (NASDAQ:EYPT) has announced the pricing of an underwritten public offering of 10.5 million shares of its common stock at a price of US$1.90 per share.

As quoted in the press release:

The gross proceeds of the offering to the Company are expected to be approximately $20 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a thirty day option to purchase up to an additional 1,578,975 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about April 1, 2019, subject to the satisfaction of customary closing conditions.

Guggenheim Securities is acting as sole book-running manager for the offering. H.C. Wainwright & Co. and Laidlaw & Company (UK) Ltd. are acting as co-managers for the offering.

EyePoint intends to use the net proceeds of the offering to fund the commercialization of DEXYCU™ (dexamethasone intraocular suspension) 9% and YUTIQ™ three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses in ophthalmology, and investments.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-228581) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on December 11, 2018.

A preliminary prospectus supplement relating to the offering was filed with the SEC on March 27, 2019 and is available on the SEC’s website at https://www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC’s website. Before investing in the offering, you should read each of the prospectus supplement and the accompanying prospectus relating to the offering in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus relating to the offering, which provide more information about the Company and the offering. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

Click here to read the full press release.