Benzinga | Jan 14, 2021 05:58AM EST

Aldeyra Therapeutics Priced ~6.8M Share Public Offering of Common Stock @$9.50/Share

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) announced the pricing of an underwritten public offering of 6,842,106 shares of its common stock at a public offering price of $9.50 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aldeyra, are expected to be approximately $65.0 million. In addition, Aldeyra granted the underwriters a 30-day option to purchase up to 1,026,315 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares in the offering are being sold by Aldeyra. Aldeyra anticipates using the net proceeds from the offering for the continued development of Aldeyra's lead compound, reproxalap, and its other product candidates, as well as for working capital, and other general corporate purposes. The offering is expected to close on or about January 19, 2021, subject to customary closing conditions.

Jefferies LLC and SVB Leerink LLC are acting as joint book-running managers for the offering. BTIG LLC and Oppenheimer & Co. Inc. are acting as co-lead managers for the offering.