OKYO Pharma Ltd (NASDAQ:OKYO) has unveiled the pricing of its $4 million best efforts registered direct offering of shares, first announced by the ophthalmology-focused biopharmaceutical company on Wednesday evening.
The company said it will be offering 2,666,6667 shares at a price of $1.50 per share without an underwriter or placement to individuals and institutions.
The proceeds of the financing will be used for the clinical development of OKYO’s product candidates, general corporate purposes and working capital.
The offering is expected to close on or about September 15, 2023.
On Wednesday, the company also announced a public offering of its shares which was withdrawn by the company on Thursday morning in response to changing market conditions.
The company has terminated Freedom Capital Markets as the underwriter of this offering.
OKYO is a life sciences company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.
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