Eyenovia, Inc. Announces Pricing of $4 Million Registered Direct Offering

Core Viewpoint - Eyenovia, Inc. has announced a securities purchase agreement for the sale of approximately 8.7 million shares of common stock and warrants, aiming to raise around $4 million to support its commercialization efforts and clinical studies [1][2]. Group 1: Offering Details - The company will sell 8,695,653 shares of common stock at a price of $0.46 per share, along with warrants to purchase an equal number of shares [1]. - The warrants have an exercise price of $0.50 per share, are exercisable six months post-issuance, and will expire five years from the initial exercise date [1]. - The closing of the offering is expected around September 30, 2024, pending customary closing conditions [1]. Group 2: Use of Proceeds - The gross proceeds from the offering are estimated to be approximately $4 million before deducting fees and expenses [2]. - The net proceeds will be allocated for commercialization activities for Mydcombi and clobetasol propionate, completion of the CHAPERONE pediatric myopia clinical study, and general corporate purposes, including potential debt repayment [2]. Group 3: Placement Agents - A.G.P./Alliance Global Partners is the lead placement agent for the offering, with Brookline Capital Markets acting as a co-placement agent [3]. Group 4: Company Overview - Eyenovia, Inc. specializes in ophthalmic technology, with FDA-approved products including Mydcombi and Clobetasol Propionate Ophthalmic Suspension, and is developing the Optejet® device for pediatric progressive myopia [6].