Funds used for clinical trials, working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., July 30 – EyeGate Pharmaceuticals, Inc. said it priced a $10 million public sale of units with a $1.5 million greenshoe. The deal was announced June 8.
The company will sell 1,176,470 units of one common share and a warrant at $8.50 per unit.
The whole warrants are each exercisable at $10.62 for five years. The strike price represents a 23.04% discount to the July 29 closing share price of $13.80.
Aegis Capital Corp. and Chardan Capital Markets, LLC are the bookrunning managers.
Settlement is expected Aug. 5.
Proceeds will be used for clinical trials, working capital and other general corporate purposes.
EyeGate is a Waltham, Mass.-based pharmaceutical company that is focused on therapeutics and drug-delivery systems for treating eye diseases.
| Issuer: | EyeGate Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $10 million
|
| Greenshoe: | $1.5 million, or 176,470 units
|
| Units: | 1,176,470
|
| Price: | $8.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $10.62
|
| Bookrunners: | Aegis Capital Corp. and Chardan Capital Markets, LLC
|
| Announcement date: | June 8
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 5
|
| Stock symbol: | Nasdaq: EYEG
|
| Stock price: | $13.80 at close July 29
|
| Market capitalization: | $88.38 million
|
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