Clearside Biomedical Announces Pricing Of $15M Registered Direct Offering With Institutional Investors And An Existing Stockholder, Providing For The Purchase And Sale Of 11,111,111 Shares Of Common Stock And Accompanying Warrant
Portfolio Pulse from Benzinga Newsdesk
Clearside Biomedical, Inc. (NASDAQ:CLSD) announced a $15M registered direct offering of 11,111,111 shares of common stock and accompanying warrants, priced at $1.35 per share. The warrants, exercisable at $1.62, will be available six months post-issuance and valid for five years. The offering, facilitated by Citizens JMP Securities, LLC as the sole placement agent, is expected to close by February 9, 2024. Clearside aims to use the proceeds for working capital and general corporate purposes, projecting funding sufficiency into Q3 2025.
February 07, 2024 | 1:23 pm
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Clearside Biomedical announces a $15M direct offering, aiming to strengthen its financial position and extend its operational runway into Q3 2025.
The direct offering is likely to have a positive short-term impact on CLSD's stock price due to the influx of capital, which is intended for working capital and general corporate purposes. This financial reinforcement is expected to extend the company's operational capabilities into the third quarter of 2025, indicating a strengthened financial position and potentially increasing investor confidence.
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