EyePoint Pharmaceuticals, which has a strong presence in Basking Ridge, announced Tuesday it intends to raise more than $100 million through an underwritten public offering of 9.1 million shares of its common stock at a price of $11 per share.
EyePoint is a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. Its CEO, Nancy Lurker, was featured in the ROI-NJ Interview Issue, where she discussed the company.
EyePoint intends to use the net proceeds from the offering for the advancement of EYP-1901 for wet AMD, for pipeline and commercial programs, and for general corporate purposes.
Read more from ROI-NJ:
- The Interview Issue: Lurker, CEO of EyePoint, talks about pharma company’s vital products, what’s next — and offers pointed comparison of how Boston, Jersey serve her industry
The gross proceeds of the offering to the company are expected to be $100.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a 30-day option to purchase up to an additional 1.365 million shares of common stock at the public offering price, less underwriting discounts and commissions.
The closing of the offering is expected to occur on or about Feb. 4, subject to the satisfaction of customary closing conditions.
Cowen and Guggenheim Securities are acting as joint book-running managers for the offering.