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Alimera announces public offering of common stock

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Alimera Sciences announced the public offering of 18 million shares of common stock at $1.40 per share, according to a press release.

Gross proceeds of the sale are expected to be approximately $25.2 million. Net proceeds from the sale may be used to fund continued commercialization of Iluvien (fluocinolone acetonide intravitreal implant 0.19 mg), to generate working capital and to fund other general corporate purposes.

The underwriters have a 30-day option to purchase an additional 900,000 shares of common stock at the public offering price to cover over-allotments, the release said.

The offering is expected to close on or around Aug. 16.