Second Sight Medical drops on deep-discounted stock deal

Vivani Medical

23/06/2021 11:07

** Second Sight Medical Products  EYES.O  shares down ~18%
premarket after follow-on prices
    ** Vision-focused firm sells 10 mln shares at $5, raises $50
mln primarily for development of its device, Orion  urn:newsml:reuters.com:*:nBw6BT9wa
    ** Offering prices at ~21% discount to stock's last sale
    ** Last month, co said majority of participants in study
benefited from Orion, which provides artificial vision to people
who are blind due to wide range of causes  urn:newsml:reuters.com:*:nL4N2MZ372
    ** Deal size represents ~56% of co's roughly 18 mln shares
of free float, per Refinitiv data
    ** EYES shares up 240% YTD. Stock surged to intraday peak of
$20 on Mar 9, fueled by interest on social media after U.S. FDA
approved its device, Argus 2s Retinal Prosthesis System

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))