Benzinga | Feb 2, 2021 08:48AM EST

EyePoint Pharma Prices $100M Equity Offering At $11 A Piece

* EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) has priced its previously announced underwritten public offering of 9.1M common shares at $11/share, raising gross proceeds of $100.1M. The offer price represents a discount of 4% from the last close price of $11.48 on Monday.

* Underwriters have an option to purchase up to an additional 1.365M common shares.

* Net proceeds will be used to advance EYP-1901 for wet age-related macular degeneration (vision loss disorder), pipeline and commercial programs, and general corporate purposes.

* The offering is expected to close by February 4.

* Price Action: EYPT shares are higher by 8.01% at $12.40 in the pre-market session on the last check Tuesday.