EyEnovia Appoints New CMO, Closes $25M Financing

TL;DR

EYEN just snagged a new CMO and $25M in funding. Big moves!

AI Summary

On August 30, 2024, EyEnovia, Inc. filed an 8-K report detailing the departure of Director Michael J. Miller and the appointment of Dr. Arshad Khan as Chief Medical Officer. The company also announced the closing of a $25 million financing round, consisting of $15 million in Series B preferred stock and $10 million in convertible notes, which closed on August 29, 2024.

Why It Matters

The appointment of a new Chief Medical Officer and the successful closing of a significant financing round indicate strategic moves by EyEnovia to advance its operations and potentially fund future growth initiatives.

Risk Assessment

Risk Level: medium — The company is undergoing leadership changes and has secured new funding, which introduces both opportunities and potential integration risks.

Key Numbers

• $25.0M — Financing (Total capital raised through Series B preferred stock and convertible notes.)
• $15.0M — Series B Preferred Stock (Portion of the financing dedicated to preferred stock.)
• $10.0M — Convertible Notes (Portion of the financing raised through convertible notes.)

Key Players & Entities

• EyEnovia, Inc. (company) — Registrant
• Michael J. Miller (person) — Departing Director
• Arshad Khan (person) — Appointed Chief Medical Officer
• $25 million (dollar_amount) — Total financing raised
• $15 million (dollar_amount) — Series B preferred stock financing
• $10 million (dollar_amount) — Convertible notes financing
• August 30, 2024 (date) — Date of report
• August 29, 2024 (date) — Date of financing closing

FAQ

Key Financial Figures

• $0.0001 — h registered) Common stock, par value $0.0001 per share EYEN The Nasdaq Stock Mar
• $440,000 — will pay Mr. Jones an initial salary of $440,000. Mr. Jones will be eligible for a cash

Filing Documents

• tm2422722d1_8k.htm (8-K) — 33KB
• tm2422722d1_ex10-1.htm (EX-10.1) — 42KB
• tm2422722d1_ex99-1.htm (EX-99.1) — 15KB
• tm2422722d1_ex99-1img001.jpg (GRAPHIC) — 2KB
• 0001104659-24-095993.txt ( ) — 282KB
• eyen-20240830.xsd (EX-101.SCH) — 3KB
• eyen-20240830_lab.xml (EX-101.LAB) — 33KB
• eyen-20240830_pre.xml (EX-101.PRE) — 22KB
• tm2422722d1_8k_htm.xml (XML) — 4KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Retirement of John Gandolfo as Chief Financial Officer Effective August 30, 2024, John Gandolfo retired from his positions as Chief Financial Officer, Treasurer and Secretary of Eyenovia, Inc. (the "Company"). To help ensure a smooth transition of his responsibilities to his successor, Mr. Gandolfo will serve as an employee of the Company until November 30, 2024, and will continue to be compensated for his services pursuant to the Employment Agreement dated February 15, 2019, as amended on March 10, 2022. Appointment of Andrew D. Jones as Chief Financial Officer Also, effective August 30, 2024, the Board of Directors of the Company (the "Board") appointed Andrew D. Jones to the positions of Chief Financial Officer, Treasurer and Secretary of the Company. Mr. Jones (age 54) served as the Chief Executive Officer and Treasurer of NovaBay Pharmaceuticals, Inc. (NYSE: NBY; "NovaBay"), an ophthalmic commercial stage company, from May 2020 to February 2023. Prior to joining NovaBay, Mr. Jones served as the Vice President of Finance of MyoScience, Inc., a commercial stage company that produced pain management devices, from July 2017 until its acquisition by Pacira BioSciences, Inc. (Nasdaq: PCRX) in August 2019, during which time he was responsible for all financial, accounting, investor relations and risk management functions as well as leading debt and equity fundraising. Mr. Jones previously served as Controller for various public and private life sciences companies including Armetheon, Inc. (May 2015 to July 2017), Asante Solutions, Inc. (October 2014 to May 2015) and Genelabs Technologies, Inc. (then, Nasdaq: GNLB) (2005 to 2009) and began his career with PricewaterhouseCoopers. Mr. Jones received a B.S. degree in Business Administration from the University of Washington in Seattle. There are no arrangeme

01

Item 7.01 Regulation FD Disclosure. On September 3, 2024, the Company issued a press release announcing the resignation of Mr. Gandolfo from his position as Chief Financial Officer and the appointment of Mr. Jones as Chief Financial Officer. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Executive Employment Agreement by and between Eyenovia, Inc. and Andrew D. Jones, dated as of August 30, 2024. 99.1 Press release dated September 3, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EYENOVIA, INC. Dated: September 3, 2024 By: /s/ Michael Rowe Michael Rowe Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR