Opthea Limited (OPT) Announces Proposed $160M ADS IPO

Opthea Limited (NASDAQ: OPT), a clinical stage biopharmaceutical company developing a novel therapy to treat highly prevalent and progressive retinal diseases, today announces the launch of its initial public offering (the “Offering”) of American Depositary Shares (“ADS”), each of which will represent eight of the Company’s ordinary shares, in the United States. The target size of the Offering is US$160 million in gross proceeds. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of ADSs sold in the Offering, at the initial public offering price per ADS less underwriting discounts and commissions. All ADSs to be sold in the Offering will be offered by the Company.

Opthea has applied to list its ADSs on the Nasdaq Global Select Market under the ticker symbol “OPT.” The ordinary shares are listed, and upon the completion of the Offering will continue to trade, on the Australian Securities Exchange (ASX) under the symbol “OPT.”

Citigroup and SVB Leerink are acting as joint book-running managers for the Offering. Oppenheimer & Co. and Truist Securities are acting as lead managers.

The Offering will be made only by means of a prospectus.

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