Okyo Pharma Ltd (LSE:OKYO, OTCQB:EMMLF), the specialist in inflammatory dry eye disease, said it is raising a gross US$2.5mln by issuing American depositary shares priced at US$4 each.
Chairman Gabriele Cerrone and chief executive Gary Jacob are subscribing for US$200,000-worth of the new Nasdaq-listed stock.
OKYO has granted the underwriters a 45-day option to purchase up to an additional 93,750 ADSs on the same terms and conditions.
ThinkEquity is acting as the book-running manager for the offering.