EyEnovia Closes $34.5M Public Offering

TL;DR

EYEN just closed a $34.5M stock offering at $7.50/share. Funds secured.

AI Summary

On December 30, 2024, EyEnovia, Inc. announced the closing of its previously disclosed underwritten public offering. The company successfully raised approximately $34.5 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. This offering involved the sale of 4,600,000 shares of common stock at a price of $7.50 per share.

Why It Matters

This capital infusion strengthens EyEnovia's financial position, providing resources for future operations and potential growth initiatives in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — Public offerings can dilute existing shareholders and the success of the company depends on the effective use of the raised capital.

Key Numbers

• $34.5M — Gross Proceeds (Funds raised from the public offering)
• 4.6M — Shares Sold (Number of common stock shares offered)
• $7.50 — Price Per Share (Offering price for each share of common stock)

Key Players & Entities

• EyEnovia, Inc. (company) — Registrant
• December 30, 2024 (date) — Closing date of the offering
• $34.5 million (dollar_amount) — Gross proceeds from the offering
• 4,600,000 (share_amount) — Number of shares sold
• $7.50 (dollar_amount) — Price per share

FAQ

Key Financial Figures

• $0.0001 — on which registered) Common stock, $0.0001 par value EYEN The Nasdaq Stock Mar
• $50,000,000 — th an aggregate offering price of up to $50,000,000 of shares of common stock, par value $0
• $16,413,443 — agent. The Company sold an aggregate of $16,413,443 of shares of Common Stock under the Ini
• $25,000,000 — 8, 2024, relating to the sale of up to $25,000,000 of Common Stock, that could be issued a
• $2.2 million — ompany had cash and cash equivalents of $2.2 million. Also as of December 26, 2024, the Comp
• $10.1 million — of December 26, 2024, the Company owed $10.1 million in principal and accrued interest under

Filing Documents

• tm2431815d2_8k.htm (8-K) — 31KB
• tm2431815d2_ex1-1.htm (EX-1.1) — 207KB
• tm2431815d2_ex5-1.htm (EX-5.1) — 7KB
• tm2431815d2_ex5-1img001.jpg (GRAPHIC) — 7KB
• tm2431815d2_ex5-1img002.jpg (GRAPHIC) — 5KB
• 0001104659-24-132482.txt ( ) — 490KB
• eyen-20241230.xsd (EX-101.SCH) — 3KB
• eyen-20241230_lab.xml (EX-101.LAB) — 33KB
• eyen-20241230_pre.xml (EX-101.PRE) — 22KB
• tm2431815d2_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive

Item 1.01. Entry into a Material Definitive Agreement. On December 30, 2024, the Company entered into an Amended and Restated Sales Agreement (the "A&R Sales Agreement") with Chardan Capital Markets, LLC ("Chardan"), as agent, which has been acknowledged and agreed by Leerink Partners LLC ("Leerink Partners"), with respect to the Company's existing at-the-market offering program with an aggregate offering price of up to $50,000,000 of shares of common stock, par value $0.0001 per share, of the Company (the "Common Stock"). The A&R Sales Agreement amends and restates that certain Sales Agreement, dated December 14, 2021, by and between the Company and Leerink Partners (the "Initial Sales Agreement") to, among other things, replace Leerink Partners with Chardan as sales agent. The Company sold an aggregate of $16,413,443 of shares of Common Stock under the Initial Sales Agreement. The Company will file a prospectus supplement relating to the offer and sale of the Common Stock pursuant to the A&R Sales Agreement, which will form a part of the Company's Registration 2024 and declared effective on October 8, 2024. Subject to the terms and conditions of the A&R Sales Agreement, Chardan may sell shares of Common Stock by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended (the "Securities Act"). Chardan will use commercially reasonable efforts to sell the Common Stock from time to time, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay Chardan a commission equal to 3.0% of the gross sales proceeds of any Common Stock sold through Chardan under the A&R Sales Agreement. The Company is not obligated to make any sales of Common Stock under the A&R S

01. Other Events

Item 8.01. Other Events. Termination of Prior ATM Prospectus On December 29, 2024, prior to entry into the A&R Sales Agreement, the Company notified Leerink Partners that it was suspending and terminating the prospectus, dated October 8, 2024, relating to the sale of up to $25,000,000 of Common Stock, that could be issued and sold pursuant to the Initial Sales Agreement. Financial Update As of December 26, 2024, the Company had cash and cash equivalents of $2.2 million. Also as of December 26, 2024, the Company owed $10.1 million in principal and accrued interest under the Loan and Security Agreement, dated November 22, 2022, as amended, with Avenue Capital Management II, L.P., as administrative agent and collateral agent, Avenue Venture Opportunities Fund, L.P., as a lender and Avenue Venture Opportunities Fund II, L.P., as a lender.

01. Exhibits

Item 9.01. Exhibits. (d) Exhibits Exhibit No. Description 1.1 Amended and Restated Sales Agreement, dated December 30, 2024, by and between Eyenovia, Inc. and Chardan Capital Markets, LLC. 5.1 Opinion of Covington & Burling LLP. 23.1 Consent of Covington & Burling LLP (included in Exhibit 5.1). 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. Date: December 30, 2024 /s/ Michael Rowe Michael Rowe Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR