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EyeGate public stock offering expected to generate $10 million
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EyeGate Pharmaceuticals announced the pricing of a public offering of common stock and warrants that is expected to generate about $10 million, according to a press release.
The underwritten public offering involves 1,176,470 shares of common stock and warrants to purchase up to 1,176,470 shares of common stock at a combined price of $8.50 per share of common stock and warrant to purchase one share of common stock.
Warrants have a per-share exercise price of $10.62 and expire 5 years after the date of issuance, the release said.
Gross proceeds to EyeGate from the offering are expected to total about $10 million, minus underwriting discounts, commissions and other related expenses.
EyeGate’s common stock will be listed on the Nasdaq Capital Market and will be listed under the ticker symbol EYEG; warrants will be listed under the ticker symbol EYEGW. Stocks and warrants are listed as of July 31.
Additionally, EyeGate has granted the underwriters a 45-day option to purchase up to 176,470 additional shares of common stock and/or warrants.
The offering is expected to close Aug. 5.