Ocular Therapeutix, Inc. (OCUL) saw a 25% increase in shares on Thursday following the announcement of a securities purchase agreement with institutional accredited investors.
OCUL is trading on the Nasdaq at $9.43, up 25.46% or $1.91 per share. It has traded between $2.00 and $9.75 in the past 52-week period.
The agreement involves the sale of securities in a private placement, generating around $325 million in gross proceeds.
The company will sell 32,413,560 shares of common stock at $7.52 per share and issue pre-funded warrants for the purchase of up to 10,805,957 shares at $7.519 per warrant. Each warrant has an exercise price of $0.001 per share, can be exercised immediately, and remains valid until fully exercised.
The private placement is set to close on February 26, 2024, pending standard closing conditions.
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