IVERIC bio (ISEE) Prices 6.25M Common Stock Offering at $4/Share

IVERIC bio, Inc. (Nasdaq: ISEE), today announced the pricing of an underwritten public offering of 6,250,000 shares of its common stock at a price to the public of $4.000 per share and, to certain investors in lieu of common stock, pre-funded warrants to purchase 3,750,000 shares of its common stock at a price to the public of $3.999 per pre-funded warrant, in each case less underwriting discounts and commissions. The purchase price of each pre-funded warrant represents the per share public offering price for the common stock, minus the $0.001 per share exercise price of such pre-funded warrant. The aggregate gross proceeds from the offering are expected to be approximately $40.0 million before underwriting discounts and commissions and offering expenses payable by the Company. In addition, in connection with the offering, the Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the securities are being offered by the Company.

Cowen is acting as the sole book-running manager for the offering. Wedbush Securities is acting as the lead manager for the offering. The offering is expected to close on or about December 10, 2019, subject to customary closing conditions.

A shelf registration statement on Form S-3 (File No. 333-226497) relating to the shares of common stock offered in the public offering was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on August 15, 2018.

You May Also Be Interested In

• DBV Technologies refreshes ATM program with $150M ADS offering
• BNY prices $500M preferred stock depositary share offering
• Vireo Growth completes $20M Pennsylvania dispensary license deal