EyePoint Pharmaceuticals Announces Pricing of Public Offering of Common Stock

WATERTOWN, Mass., Feb. 21, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a biopharmaceutical company committed to developing and commercializing innovative ophthalmic products today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $1.45 per share. The gross proceeds of the offering to the Company are expected to be approximately $21,750,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a thirty-day option to purchase up to an additional 2,250,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about February 25, 2020, subject to the satisfaction of customary closing conditions.

Guggenheim Securities is acting as sole book-running manager for the offering. Laidlaw & Company (UK) Ltd. is acting as co-manager for the offering.

EyePoint intends to use the net proceeds of the offering to continue to fund the commercialization and expand the access of DEXYCU (dexamethasone intraocular suspension) 9% and YUTIQ (fluocinolone acetonide intravitreal implant) 0.18, and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures related to the advancement of EYP-1901 for retinal diseases and our other product candidates, clinical trial expenditures, acquisitions of new technologies, products or businesses in ophthalmology, and investments.

The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-228581) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on December 11, 2018.

A preliminary prospectus supplement relating to the offering was filed with the SEC on February 20, 2020 and is available on the SEC’s website at http://www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC’s website. Before investing in the offering, you should read each of the prospectus supplement and the accompanying prospectus relating to the offering in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus relating to the offering, which provide more information about the Company and the offering. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at [phone], or by email at [e-mail].