Aerie Pharma (AERI) Enters $50M Equity Offering Sales Agreement
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Aerie Pharma (NASDAQ: AERI) disclosed the following in a U.S. SEC filing on Thursday:
Item 1.01. Entry into Material Definitive Agreement.
On September 15, 2016, Aerie Pharmaceuticals, Inc. (the “Company”) entered into a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co., acting as agent, pursuant to which the Company may offer and sell, from time to time through Cantor Fitzgerald & Co., shares of the Company’s common stock, par value $0.001 per share, having an aggregate offering price of up to $50,000,000. The common stock will be issued pursuant to the Company’s registration statement on Form S-3 (File No. 333-199821) which was filed on November 3, 2014 and which became effective on November 10, 2014.
Pursuant to the at-the-market sales agreement, shares of common stock may be offered and sold through Cantor Fitzgerald & Co. in transactions that are deemed to be “at-the-market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended. Cantor Fitzgerald & Co. will act as sales agent on a best efforts basis and use commercially reasonable efforts to sell on our behalf all of the shares of common stock requested to be sold by the Company, consistent with its normal trading and sales practices, on mutually agreed terms between Cantor Fitzgerald & Co. and the Company. Except as otherwise described in the at-the-market sales agreements, Cantor Fitzgerald & Co. will be entitled to compensation at a commission rate of up to 3.0% of the gross sales price per share sold. The Company has no obligation to sell any shares under the at-the-market sales agreement, and may at any time suspend offers under the at-the-market sales agreement or terminate the at-the-market sales agreement.
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Related EntitiesCantor Fitzgerald, S3
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