10:07 AM EDT, 08/21/2024 (MT Newswires) -- Eyenovia ( EYEN ) said Wednesday it priced a public offering of nearly 12.9 million common shares at $0.40 per share for expected gross proceeds of about $5.14 million.

The commercial-stage ophthalmic company said the offering is expected to close around Thursday, pending customary closing conditions.

Eyenovia ( EYEN ) said it intends to use the net proceeds to fund commercialization activities for Mydcombi and clobetasol propionate, complete the CHAPERONE pediatric myopia study, and for general corporate purposes.

Shares of Eyenovia ( EYEN ) were down more than 44% in recent Wednesday trading.

Price: 0.40, Change: -0.28, Percent Change: -40.81