OKYO Pharma Limited Announces Pricing of Public Offering and Nasdaq Listing
16 Maio 2022 - 07:12PM
OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) (“OKYO Pharma” or the
“Company“), a biotechnology company focused on the discovery and
development of novel molecules to treat inflammatory dry eye
diseases and ocular pain, announced the pricing of an underwritten
public offering of 625,000 American Depositary Shares (the “ADSs”)
at a public offering price of $4.00 per ADS. In addition, OKYO
Pharma has granted the underwriters a 45-day option to purchase up
to an additional 93,750 ADSs to cover over-allotments, if any. The
gross proceeds to the Company from this offering are expected to be
approximately $2,500,000 before deducting underwriting discounts,
commissions and other offering expenses, and excluding the exercise
of the over-allotment option, if any. The offering is expected to
close on May 19, 2022, subject to customary closing conditions.
The Company has received approval to list its
ADSs on the Nasdaq Capital Market under the symbol “OKYO”, and the
ADSs are expected to begin trading on May 17, 2022.
OKYO Pharma intends to use the net proceeds of
the offering to advance OK-101 to the filing of an IND to treat
DED, to fund the initial Phase 2 clinical trial of OK-101 in DED
patients, and the remaining proceeds for working capital and other
general corporate purposes.
ThinkEquity is acting as the sole book-running
manager for the offering.
The registration statement on Form F-1 (file No.
333-263326) relating to the shares being sold in this offering has
been filed with the U.S. Securities and Exchange Commission (the
“SEC”) and became effective on May 16, 2022. A final prospectus
related to the proposed offering will be filed and made available
on the SEC’s website at https://www.sec.gov/. The offering is being
made only by means of a prospectus. Electronic copies of the final
prospectus may be obtained, when available, from ThinkEquity, 17
State Street, 22nd Floor, New York, New York 10004, by telephone at
(877) 436-3673 and by email at prospectus@think-equity.com.
This press release shall 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
registration or qualification under the securities laws of any such
state or jurisdiction.
About OKYO Pharma LimitedOKYO
Pharma Limited (Nasdaq: OKYO, LSE: OKYO) is a biotechnology company
developing next-generation therapeutics to improve the lives of
patients suffering from inflammatory eye diseases and ocular pain.
OKYO’s research program is focused on a novel G Protein-Coupled
Receptor, or GPCR, which OKYO believes plays a key role in the
pathology of these inflammatory eye diseases of high unmet medical
need. OKYO’s therapeutic approach is focused on targeting
inflammatory and pain modulation pathways that drive these
conditions. The Company is presently developing OK-101, its lead
preclinical product candidate, for the treatment of dry-eye disease
“DED”. The Company also plans to evaluate its potential in
benefiting patients with ocular neuropathic pain, uveitis and
allergic conjunctivitis.
Forward Looking
StatementsCertain statements made in this announcement are
forward-looking statements including with respect to the creation
of a trading market for ADSs representing the Ordinary Shares in
the United States. These forward-looking statements are not
historical facts but rather are based on the Company's current
expectations, estimates, and projections about its industry; its
beliefs; and assumptions. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates" and similar
expressions are intended to identify forward-looking statements.
These statements are not guarantees of future performance and are
subject to known and unknown risks, uncertainties, and other
factors, some of which are beyond the Company's control, are
difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements, including market conditions, whether
the proposed Offering is completed and the satisfaction of
customary closing conditions related to the proposed Offering. The
Company cautions security holders and prospective security holders
not to place undue reliance on these forward-looking statements,
which reflect the view of the Company only as of the date of this
announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
Investor Relations Contact
RedChip Companies Inc.(Investor
Relations)
Dave Gentry +1 407-491-4498
Okyo Pharma (LSE:OKYO)
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