EyePoint Pharma Prices Public Offering Of About 12.73 Mln Shares At $11.00/shr

(RTTNews) - EyePoint Pharmaceuticals Inc. (EYPT) announced the pricing of an underwritten public offering of about 12.73 million shares of its common stock at a public offering price of $11.00 per share.

The company expects aggregate gross proceeds from the offering to be approximately $140.0 million, before deducting underwriting discounts and commissions and other offering expenses.

The closing of the offering is expected to occur on or about October 31, 2024.

In addition, EyePoint has granted the underwriters an option for a period of 30 days to purchase up to an additional 1.91 million shares of EyePoint's common stock at the public offering price, less underwriting discounts and commissions.

J.P. Morgan, Citigroup and Guggenheim Securities are acting as joint book running managers for the offering. Baird, Mizuho and Jones are acting as co-managers for the offering.

EyePoint said it plans to use the net proceeds that it will receive from the offering to advance clinical development of DURAVYU for wet age related macular degeneration (wet AMD) and diabetic macular edema (DME), as well as support its earlier stage pipeline development initiatives, and for general corporate purposes.