Eyenovia Agrees To Sell 12.85M Shares At $0.40 Each, Expected To Raise $5.14M In Gross Proceeds For Funding Commercialization And Pediatric Myopia Study
Portfolio Pulse from Benzinga Newsdesk
Eyenovia has agreed to sell 12.85 million shares at $0.40 each, aiming to raise $5.14 million in gross proceeds. The funds will be used for commercialization efforts and a pediatric myopia study.
August 21, 2024 | 1:30 pm
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Eyenovia is raising $5.14 million through the sale of 12.85 million shares at $0.40 each. The proceeds will fund commercialization and a pediatric myopia study.
The issuance of new shares at a low price of $0.40 could lead to short-term downward pressure on Eyenovia's stock price due to dilution. However, the funds raised are intended for commercialization and research, which could be positive in the long term.
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