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OKYO Pharma Limited Announces Pricing of Public Offering and Nasdaq ListingLONDON, May 16, 2022 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) (“OKYO Pharma” or the “Company“), a biotechnology company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and ocular pain, announced the pricing of an underwritten public offering of 625,000 American Depositary Shares (the “ADSs”) at a public offering price of $4.00 per ADS. In addition, OKYO Pharma has granted the underwriters a 45-day option to purchase up to an additional 93,750 ADSs to cover over-allotments, if any. The gross proceeds to the Company from this offering are expected to be approximately $2,500,000 before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option, if any. The offering is expected to close on May 19, 2022, subject to customary closing conditions. The Company has received approval to list its ADSs on the Nasdaq Capital Market under the symbol “OKYO”, and the ADSs are expected to begin trading on May 17, 2022. OKYO Pharma intends to use the net proceeds of the offering to advance OK-101 to the filing of an IND to treat DED, to fund the initial Phase 2 clinical trial of OK-101 in DED patients, and the remaining proceeds for working capital and other general corporate purposes. ThinkEquity is acting as the sole book-running manager for the offering. The registration statement on Form F-1 (file No. 333-263326) relating to the shares being sold in this offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on May 16, 2022. A final prospectus related to the proposed offering will be filed and made available on the SEC’s website at https://www.se.gov/. The offering is being made only by means of a prospectus. Electronic copies of the final prospectus may be obtained, when available, from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 and by email at [email protected]. This press release shall 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 registration or qualification under the securities laws of any such state or jurisdiction. About OKYO Pharma Limited Forward Looking Statements Investor Relations Contact RedChip Companies Inc. Dave Gentry +1 407-491-4498 |