Clearside Biomedical Announces Pricing of $12 Million Registered Direct Offering
January 06 2021 - 7:05AM
Clearside Biomedical, Inc. (NASDAQ:CLSD), a biopharmaceutical
company dedicated to developing and delivering treatments that
restore and preserve vision for people with serious back of the eye
diseases, announced today that it has entered into a securities
purchase agreement with institutional investors and certain
existing stockholders, providing for the purchase and sale of
4,209,050 shares of common stock at a price of $2.851 per share,
priced at-the-market under Nasdaq rules based on the five-day
average closing price of the common stock, in a registered direct
offering, resulting in total gross proceeds of approximately $12.0
million, before deducting the placement agent’s fees and other
estimated offering expenses.
The offering is expected to close on or about
January 8, 2021, subject to the satisfaction of customary closing
conditions.
Roth Capital Partners is acting as the sole
placement agent for the offering.
The offering is being made pursuant to a shelf
registration statement on Form S-3 (File No. 333-238128) (including
a prospectus) previously filed with the Securities and Exchange
Commission (the “SEC”) on May 8, 2020, amended on May 19, 2020 and
declared effective by the SEC on May 22, 2020. A prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the offering will be filed with the SEC and
will be available on the SEC’s website at www.sec.gov. When
available, copies of the prospectus supplement and the accompanying
prospectus relating to the offering may also be obtained by
contacting Roth Capital Partners, LLC, 888 San Clemente Drive,
Newport Beach, California 92660, by calling (800) 678-9147 or by
e-mail at rothecm@roth.com.
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.
About Clearside Biomedical
Clearside Biomedical, Inc. is a
biopharmaceutical company dedicated to developing and delivering
treatments that restore and preserve vision for people with serious
back of the eye diseases. Clearside’s proprietary SCS
Microinjector® targets the suprachoroidal space (SCS®) and offers
unique access to the macula, retina and choroid where
sight-threatening disease often occurs. Clearside’s SCS injection
platform is an inherently flexible, in-office, non-surgical
procedure, intended to provide targeted delivery to the site of
disease and to work with both established and new formulations of
medications, as well as future therapeutic innovations such as gene
therapy. For more information, please visit
www.clearsidebio.com.
Cautionary Note Regarding
Forward-Looking Statements
Any statements in this press release about
future expectations, plans and prospects for Clearside, including
statements about the closing of the offering and other statements
containing the words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,” and
similar expressions, constitute forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those indicated by
such forward-looking statements as a result of various important
factors, including: the uncertainties related to market conditions
and the completion of the offering on the anticipated terms or at
all, uncertainties inherent in the initiation of future clinical
trials and such other factors as are set forth in the risk factors
detailed in Clearside’s Annual Report on Form 10-K filed with the
SEC on March 13, 2020, Clearside’s Quarterly Report on Form 10-Q
filed with the SEC on November 10, 2020 and other filings with the
SEC under the heading “Risk Factors.” In addition, the
forward-looking statements included in this press release represent
Clearside’s views as of the date hereof. Clearside anticipates that
subsequent events and developments will cause Clearside’s views to
change. However, while Clearside may elect to update these
forward-looking statements at some point in the future, Clearside
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Clearside’s views as of any date subsequent to the
date hereof.
Investor and Media Contacts:Jenny Kobin Remy
Bernarda ir@clearsidebio.com(678) 430-8206
Source: Clearside Biomedical, Inc.
Clearside Biomedical (NASDAQ:CLSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Clearside Biomedical (NASDAQ:CLSD)
Historical Stock Chart
From Sep 2023 to Sep 2024