Eyenovia, Inc. (EYEN), a company specializing in ophthalmic technology, announced on Friday the pricing of a registered direct offering. This initiative aims to raise approximately $1.9 million, intended to support the company's working capital and general corporate purposes.
In this offering, Eyenovia is making available 20.1 million shares of its common stock at a rate of $0.0969 per share. Additionally, they are providing warrants that allow the purchase of an extra 40.2 million shares at the same price point.
These warrants are set to become exercisable either six months following the issuance date or upon receiving stockholder approval, with a lifespan extending five years from the initial exercise date. The completion of this offering is anticipated around December 9, 2024.
Chardan is serving as the sole placement agent for this offering. The capital raised is designated for supporting working capital, general corporate purposes, advancing the development of the next-generation Optejet device, commercializing Mydcombi and clobetasol propionate, and investigating strategic alternatives. On Friday, December 6, 2024, Eyenovia's stock closed at $0.08, reflecting a decrease of 9.49%. However, in premarket trading, the stock has risen by 2.62%, reaching $0.09.
