EyeGate Pharma slumps on share offering

Kiora Pharmaceuticals

10/08/2021 16:51

** Eye drug developer's shares  EYEG.O  fall ~22% to $1.75
    ** Co enters into definitive agreement with several
institutional and accredited investors to sell ~4.7 mln shares,
as it looks to raise about $10.75 mln  urn:newsml:reuters.com:*:nGNX112jrC
    ** Sale price set at $2.3025 per share in a registered
direct offering priced at-the-market under Nasdaq rules
    ** Co has also agreed to issue to investors, in a concurrent
private placement, unregistered warrants to purchase up to an
aggregate of 2,334,422 shares of common stock
    ** Offering is expected to close around August 11
    ** Co will use net proceeds to support its operations,
including for clinical trials, for working capital and for other
general corporate purposes
    ** EYEG has 7.10 mln shares outstanding and 6.85 mln shares
of free float - Refinitiv data
    ** H.C. Wainwright & Co. is the exclusive placement agent
for the offering

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com))