EyePoint Pharmaceuticals Inc. (EYPT) has revealed the pricing details for its underwritten public offering, which involves approximately 12.73 million shares of common stock at a rate of $11.00 per share.
The company anticipates gross proceeds totaling around $140.0 million from this offering, prior to the deduction of underwriting discounts, commissions, and other related expenses.
The closing of the offering is scheduled for on or about October 31, 2024.
Moreover, EyePoint has extended an option to the underwriters, allowing them to purchase up to an additional 1.91 million shares of its common stock at the established public offering price, minus underwriting discounts and commissions, within a 30-day period.
J.P. Morgan, Citigroup, and Guggenheim Securities are serving as joint book-running managers for this offering, while Baird, Mizuho, and Jones are acting as co-managers.
EyePoint has indicated that it intends to allocate the net proceeds from this offering toward the advancement of clinical development of DURAVYU, aimed at treating wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). Additionally, funds will be used to support early-stage pipeline development initiatives and other general corporate expenses.
