OKYO Pharma Announces Pricing of $4.0 Million Registered Direct Offering of Ordinary Shares
14 Septiembre 2023 - 8:15AM
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.
About OKYO PharmaOKYO Pharma
Limited (Nasdaq: OKYO) is a life sciences company, focusing on the
discovery and development of novel molecules to treat inflammatory
dry eye diseases and chronic pain.
Forward-Looking
StatementsStatements in this press release may be
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that concern matters
that involve risks and uncertainties that could cause actual
results to differ materially from those anticipated or projected in
the forward-looking statements. These forward-looking statements
are not historical facts but rather are based on the Company's
current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as
'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,'
'estimates,' and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
reflect the current beliefs and expectations of management and
include statements regarding the closing of the offering and the
registered direct offering. These statements are not guarantees of
future performance and are subject to known and unknown risks,
uncertainties, and other factors, some of which are beyond the
Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in
the forward-looking statements. The Company cautions security
holders and prospective security holders not to place undue
reliance on these forward-looking statements, which reflect the
view of the Company only as of the date of this announcement.
Forward-looking statements are subject to risks and uncertainties
that may cause the Company’s actual activities or results to differ
materially from those indicated or implied by any forward-looking
statement, including, without limitation, due to risks and
uncertainties related to market conditions and the
satisfaction of closing conditions related to the proposed
registered direct offering, risks disclosed in the section titled
"Risk Factors" included in the final prospectus supplement to be
filed with the SEC, and risks disclosed in other documents OKYO
files from time to time with the SEC. The forward-looking
statements made in this announcement relate only to events as of
the date on which the statements are made. The Company will not
undertake any obligation to release publicly any revisions or
updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of
this announcement except as required by law or by any appropriate
regulatory authority.
Enquiries:
OKYO Pharma Limited |
Gary S. Jacob, Chief Executive Officer |
+44 (0)20 7495 2379 |
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Investor
Relations |
Paul Spencer |
+44 (0)20 7495 2379 |
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