OKYO Pharma Announces Proposed Public Offering of Ordinary Shares
28 Juillet 2023 - 11:25PM
OKYO Pharma Announces Proposed Public Offering of Ordinary
Shares
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) to address the
significant unmet need in this multi-billion-dollar market, today
announced that it intends to offer to sell its ordinary shares in
an underwritten public offering. All of the ordinary shares are to
be sold by the Company. The Company expects to grant the
underwriter a 45-day option to purchase up to an additional 15% of
the number of ordinary shares sold in this offering to cover
over-allotments, if any. The offering is subject to market
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
ThinkEquity is acting as sole book-running
manager for the offering.
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 will be 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 will be made only
by means of a written prospectus. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering has been or will be filed with the SEC on its website at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained from the offices of ThinkEquity, 17 State Street, 41st
Floor, New York, New York 10004. Before investing in this offering,
interested parties should read in their entirety the preliminary
prospectus supplement and the accompanying prospectus and the other
documents that the Company has filed with the SEC that are
incorporated by reference in such preliminary prospectus supplement
and the accompanying prospectus, which provide more information
about the Company and such offering.
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 OK-101OK-101 is a lipid
conjugated chemerin peptide agonist of the ChemR23 G-protein
coupled receptor which is typically found on immune cells of the
eye responsible for the inflammatory response. OK-101 was developed
using a membrane-anchored-peptide (MAP) technology to produce a
novel long-acting drug candidate for treating dry eye disease.
OK-101 has been shown to produce anti-inflammatory and
pain-reducing activities in mouse models of dry eye disease and
NCP; and is designed to combat washout through the inclusion of the
lipid ‘anchor’ contained in the candidate drug molecule to enhance
the residence time of OK-101 within the ocular environment.
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. For further information, please
visit www.okyopharma.com.
Forward-Looking
StatementsCertain statements made in this announcement are
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 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. 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 |
Investor Relations |
Paul Spencer |
+44 (0)20 7495 2379 |
Okyo Pharma (LSE:OKYO)
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