Eyenovia, Inc. announces $4 million registered direct offering price

NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) — Eyenovia, Inc. (NASDAQ: EYEN) (“Eyenovia” or the “Company”), an ophthalmic technology company with two FDA-approved products and a late-stage asset in the development of a treatment for progressive myopia in children, today announced that it has entered into a securities purchase agreement securities with a healthcare institutional investor to purchase and sell 8,695,653 shares of common stock (or common stock equivalents thereof) and warrants the purchase of an aggregate of up to 8,695,653 shares of common stock in a registered direct offering at an aggregate offering price of $0.46 per share and the accompanying warrant. The warrants have an exercise price of $0.50 per share, will become exercisable six months from the issuance date, and will expire five years from the original exercise date. The offering is expected to close on or about September 30, 2024, subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering will be approximately $4 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering to finance the commercialization activities of Mydcombi and clobetasol propionate, the completion of the CHAPERONE pediatric myopia clinical trial, and for working capital and general corporate purposes, which may include the repayment of a portion of its existing indebtedness.

AGP/Alliance Global Partners is acting as lead placement agent for the offering, and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-placement agent for the offering.

The securities described above are being offered by Eyenovia pursuant to a previously filed shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (the “SEC”) on December 23, 2021. The offering may only be made by means of a base prospectus and an accompanying prospectus supplement. A prospectus supplement relating to the offering will be filed with the SEC and, once filed, will be available on the SEC’s website at www.sec.gov. In addition, when available, electronic copies of the prospectus supplement may be obtained from AGP/Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by telephone at (212) 624-2060, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of securities applicable in such state or jurisdiction.

About Eyenovia, Inc.

Eyenovia, Inc. is an ophthalmic technology company that markets Mydcombi (tropicamide and phenylephrine hydrochloride eye spray) 1%/2.5% for mydriasis, Clobetasol Propionate ophthalmic suspension 0.05% for post-operative inflammation and pain, and develops Optejet® device for use both in connection with its own medicinal product – a medicine for progressive myopia in children, and for licensing for additional indications. More information can be found at Eyenovia.com.

Forward-Looking Statements

Except for historical information, all statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements expressing our intentions, beliefs, expectations, strategies, projections or any other statements regarding our future operations or other future events or conditions, including those relating to the offering, the closing of the offering, the amount and anticipated use of the proceeds of the offering, the estimated market opportunity for our product candidates and platform technology, the timing of sales growth for our approved products, and the outcome of a process to explore strategic alternatives to maximize shareholder value. These statements are based on current expectations, estimates and projections regarding our business, based in part on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results and performance may, and in some cases are likely to, differ materially from what is expressed or projected in the forward-looking statements due to numerous factors discussed from time to time in filings with the U.S. Securities and Exchange Commission.

In addition, such statements may be affected by risks and uncertainties relating to, among other things: risks associated with our clinical trials, including, without limitation, the costs, design, initiation and enrollment, timing, progress and results of such trials; the timing and our ability to submit applications to obtain and maintain regulatory approvals for our products and product candidates; the potential advantages of our products, product candidates and platform technologies; the degree and degree of market acceptance and clinical utility of our products and product candidates; our estimates of potential market opportunities for our products and product candidates; reliance on third parties to develop and commercialize our products and product candidates; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products and product candidates; intellectual property risk; changes in the legal, regulatory, legislative and geopolitical environment in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approvals for our products and product candidates; and our competitive position.

Any forward-looking statements speak only as of the date they are made and, except as required under applicable securities laws, Eyenovia undertakes no obligation to update any forward-looking statements.

Contact with Eyenovia:
Eyenovia, Inc.
Andy Jones
Finance Director
[email protected]

Contact for Eyenovia investors:
Eric Ribner
LifeSci Advisors, LLC
[email protected]
(646) 751-4363

Eyenovia media contact:
Eyenovia, Inc.
Norbert Lowe
Vice President of Commercial Operations
[email protected]