Eyenovia Inc (EYEN) Prices $1.3M Offering at $0.1076/sh

Eyenovia, Inc. (NASDAQ: EYEN) today announced that it has entered into a securities purchase agreement with a healthcare focused institutional investor for the purchase and sale of 12,081,785 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 24,163,570 shares of common stock in a registered direct offering at a combined offering price of $0.1076 per share and accompanying warrants. The warrants will have an exercise price of $0.1076 per share, will be exercisable commencing six months from the date of issuance and will expire five years from the initial exercise date. The closing of the offering is expected to take place on or about November 26, 2024, subject to the satisfaction of customary closing conditions.

The gross proceeds of the offering will be approximately $1.3 million before deducting placement agent fees and other estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include the partial repayment of amounts outstanding under the Loan and Security Agreement with Avenue Capital Management II, L.P. and related entities, and, to the extent possible, advancement of the Company’s next generation Optejet device, commercialization activities for Mydcombi and clobetasol propionate, and the exploration and pursuit of strategic alternatives.

Chardan is acting as sole placement agent for the offering.

The securities described above are being offered by Eyenovia pursuant to its previously filed shelf registration statement on Form S-3 (File No. 333-282458), which was declared effective by the Securities and Exchange Commission (the “SEC”) on October 8, 2024. The offering may be made only by means of a base prospectus and accompanying prospectus supplement. A prospectus supplement relating to the offering will be filed with the SEC and, once filed, will be available on the SEC’s website at www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement may be obtained from Chardan Capital Markets, LLC, Attn: Capital Markets, One Pennsylvania Plaza, Suite 4800, New York, New York 10119, 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.

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