Eyenovia, Inc. Announces Approximately $6.0 Million Private Placement
March 23 2020 - 06:35PM
Eyenovia, Inc. (NASDAQ: EYEN), a clinical stage ophthalmic
biopharmaceutical company developing a pipeline of microdose
therapeutics utilizing its patented piezo-print technology, today
announced that it has received subscriptions for a private
placement in the amount of approximately $6.0 million of units at a
price to the public of $2.21425 per unit. The offering is expected
to close on or about March 24, 2020, subject to customary closing
conditions.
Each unit consists of (i) one share of common stock, par value
$0.0001 per share, (ii) a one-year warrant to purchase 0.5 of a
share of common stock, and (iii) a five-year warrant to purchase
0.75 of a share of common stock.
The proceeds of the offering are expected to be used, together
with other available funds, for the MicroLine and MicroPine
clinical studies, to advance MicroStat’s new drug application, and
for working capital and general corporate purposes.
National Securities Corporation, a wholly owned subsidiary
of National Holdings Corporation (NASDAQ:NHLD), acted as the
sole Placement Agent.
The securities offered and sold by Eyenovia in the private
placement were not registered under the Securities Act of 1933 or
state securities laws and may not be offered or sold in the United
States absent registration with the U.S. Securities and Exchange
Commission, or the SEC, or an applicable exemption from such
registration requirements. Eyenovia has agreed to file a
registration statement with the SEC covering the resale of the
shares of common stock, including shares of common stock issuable
upon exercise of the warrants, to be issued in the private
placement. Any resale of Eyenovia’s securities under such resale
registration statement will be made only by means of a
prospectus.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities nor will there be
any offer or sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Eyenovia
Eyenovia is a clinical stage ophthalmic biopharmaceutical
company developing a pipeline of microdose therapeutics utilizing
its patented piezo-print delivery technology. Eyenovia’s pipeline
is currently focused on the late-stage development of microdosed
medications for presbyopia, myopia progression and mydriasis. For
more information please visit www.eyenovia.com
Forward Looking Statements
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Forward-looking statements include, but
are not limited to, statements that express our intentions,
beliefs, expectations, strategies, predictions or any other
statements relating to our future activities or other future events
or conditions, including estimated market opportunities in the
United States for our product candidates. These statements are
based on current expectations, estimates and projections about our
business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may, and are likely to,
differ materially from what is expressed or forecasted in the
forward-looking statements due to numerous factors discussed from
time to time in documents which we file with the SEC. In
addition, such statements could be affected by risks and
uncertainties related to, among other things: risks relating
to closing the private placement, including the satisfaction
of customary closing conditions; the anticipated use of proceeds
from the private placement; our need to raise additional money to
fund our operations for at least the next 12 months as a going
concern; fluctuations in our financial results and stock price,
particularly given market conditions and the potential economic
impact of COVID-19; the potential impacts of the coronavirus on our
supply chain; risks of our clinical trials, including, but not
limited to, the costs, design, initiation and enrollment (which
could be adversely impacted by the coronavirus pandemic and
resulting social distancing), timing, progress and results of such
trials; the timing and our ability to submit applications for, and
obtain and maintain regulatory approvals for, our product
candidates; the potential success of our reprioritized pipeline;
any cost savings related to our reprioritized pipeline; our
estimates regarding the potential market opportunity for our
product candidates; the potential advantages of our product
candidates; the rate and degree of market acceptance and clinical
ability of our product candidates; our ability to timely develop
and implement anticipated manufacturing, commercialization and
marketing capabilities and strategies for existing product
candidates; our ability to attract and retain key personnel;
intellectual property risks; changes in legal, regulatory and
legislative environments in the markets in which we operate and the
impact of these changes on our ability to obtain regulatory
approval for our products; and our competitive position. Any
forward-looking statements speak only as of the date on which they
are made, and except as may be required under applicable securities
laws, we do not undertake any obligation to update any
forward-looking statements.
Company Contact: Eyenovia, Inc. John Gandolfo
Chief Financial Officer jgandolfo@eyenoviabio.com
Investor Contact: The Ruth Group Tram Bui
/ Alexander Lobo Phone: 646-536-7035/7037
tbui@theruthgroup.com / alobo@theruthgroup.com
Media Contact: The Ruth Group Kirsten Thomas
Phone: 508-280-6592 kthomas@theruthgroup.com
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