OKYO Pharma Announces Pricing of $4.0 Million Registered Direct Offering of Ordinary Shares
LONDON and NEW YORK, Sept. 14, 2023 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (Nasdaq: OKYO) (“OKYO” or the “Company”), an ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (“DED”), today announced the pricing of a Company best efforts registered direct offering of 2,666,667 ordinary shares at an offering price of $1.50 per ordinary share conducted without an underwriter or placement agent to individuals and institution. The gross proceeds to OKYO from the offering, before deducting estimated offering expenses payable by OKYO, are expected to be $3.95 million. The offering is expected to close on or about September 15, 2023, subject to the satisfaction of customary closing conditions.
OKYO intends to use the net proceeds from the offering primarily for clinical development of the Company’s product candidates, general corporate purposes and working capital.
The securities are being offered and sold pursuant to a shelf registration statement on Form F-3 (File No. 333-272516), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 8, 2023, and declared effective on June 14, 2023. The offering is being made only by means of a prospectus supplement and the accompanying base prospectus, as may be further supplemented by any free writing prospectus and/or pricing supplement that the Company may file with the SEC. The final prospectus supplement related to the offering will be filed with the SEC and will also be available on the SEC website.
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 such state or jurisdiction.
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