MDB Capital sells 4,025,000 common shares to fund corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 24 – Second Sight Medical Products, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $4.73 million greenshoe in full for total proceeds of $36.23 million. The deal was announced Aug. 12 and priced for $31.5 million with the greenshoe on Nov. 19.
The company sold 4,025,000 common shares at $9.00 apiece. Of the shares, 525,000 were part of the fully exercised greenshoe.
MDB Capital Group, LLC was the bookrunning manager.
Proceeds will be used for general corporate purposes, including commercialization of the company’s Argus II product, research and development and clinical trials.
The medical device company is based in Sylmar, Calif. The company expects its shares will trade on the Nasdaq under the symbol “EYES.”
| Issuer: | Second Sight Medical Products, Inc.
|
| Issue: | Common stock
|
| Amount: | $36,225,000, including $4,725,000 greenshoe
|
| Shares: | 4,025,000
|
| Price: | $9.00
|
| Warrants: | No
|
| Bookrunner: | MDB Capital Group, LLC
|
| Announcement date: | Aug. 12
|
| Pricing date: | Nov. 19
|
| Settlement date: | Nov. 24
|
| Stock symbol: | Nasdaq: EYES
|
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