EyePoint Pharmaceuticals Raises $100M Via Capital Raise At 5% Discount

EyePoint Pharmaceuticals Inc EYPT has priced an underwritten public offering of 4.03 million at $13.75 per share and pre-funded warrants to purchase up to an aggregate of 3.27 million shares at $13.74 per pre-funded warrant.
The offer price represents a discount of 5% from the last close price of $14.50 on Tuesday.
The aggregate gross proceeds from this offering are expected to be approximately $100.3 million.
Underwriters have an option to purchase up to an additional 1.09 million shares.
The offering will close by November 19.
Cowen and Guggenheim Securities are acting as joint book-running managers for the offering.
EyePoint will use the proceeds to advance EYP-1901, support earlier stage pipeline development initiatives and general corporate purposes.
Recently, the Company announced encouraging six-month interim data from the Phase 1 trial of EYP-1901 in wet age-related macular degeneration.
Price Action: EYPT shares are up 3.20% at $14.50 during the premarket session on the last check Wednesday.