Clearside Biomedical (CLSD) Prices 11.11M Share Offering at $1.35/sh

Clearside Biomedical, Inc. (“Clearside” or the “Company”) (NASDAQ: CLSD), a biopharmaceutical company revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space (SCS®), announced today that it has entered into a securities purchase agreement with institutional investors and an existing stockholder, providing for the purchase and sale of 11,111,111 shares of common stock and accompanying warrant to purchase up to 11,111,111 shares of common stock in a registered direct offering. The offer price for one share of common stock and accompanying warrant to purchase one share of common stock will be $1.35. The warrants have an exercise price of $1.62 per share, will be exercisable six months from the issuance date and will have a term of five years from the initial exercise date. The offering is expected to close on or about February 9, 2024, subject to the satisfaction of customary closing conditions.

Citizens JMP Securities, LLC is acting as the sole placement agent for the offering.

The gross proceeds to Clearside from this offering are expected to be approximately $15.0 million, before deducting the placement agent’s fees and other offering expenses payable by Clearside. Clearside intends to use the net proceeds from this offering for working capital and general corporate purposes. Clearside believes that the net proceeds from this offering, together with its current cash and cash equivalents and short-term investments, will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the third quarter of 2025.

The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-271902) (including a base prospectus) previously filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2023 and declared effective by the SEC on May 19, 2023. A prospectus supplement and the accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the prospectus supplement and the accompanying base prospectus relating to the offering may also be obtained by contacting Citizens JMP Securities, LLC, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by email at [email protected].

This press release does 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 offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

You May Also Be Interested In

• Gaxos.ai raises $3.6M through warrant exercise transaction
• Tractor Supply (TSCO) files mixed shelf
• Harvard discloses $2.2B SpaceX stake, over half its U.S. equity portfolio