Oculis updates share capital for its existing at-the-market offering program
On May 17, 2024, Oculis Holding announced updates to its at-the-market offering program. The company issued 1,000,000 new ordinary shares with a nominal value of CHF 0.01, recorded as treasury shares. The total number of registered shares is 46,443,700, with 41.7 million outstanding. This move follows a sales agreement with Leerink Partners on May 8, 2024, allowing Oculis to sell up to $100 million worth of shares. The company has no obligation to sell and can suspend or terminate the offering at any time. For more details, refer to Oculis' SEC filings.
- Issuance of 1,000,000 new shares could potentially raise up to $100 million.
- Flexibility to suspend or terminate the offering provides control over share issuance.
- Increase in treasury shares can be used for various strategic purposes.
- Share dilution due to the issuance of 1,000,000 new shares.
- Potential market pressure if a large number of shares are sold at once.
- Uncertainty about the timing and amount of future share sales may unsettle investors.
ZUG, May 17, 2024 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS; XICE: OCS) (“Oculis” or the “Company”), a global biopharmaceutical company, has issued registered ordinary shares of the Company, each with a nominal value of CHF 0.01, issued out of existing capital band (Kapitalband), for an aggregate of 1,000,000 ordinary shares of the Company (the "New Shares"), recorded as treasury shares. The number of registered shares issued by the Company as per its Articles of Association is 46,443,700, of which 41.7 million shares are outstanding.
The New Shares were issued following the Company and Leerink Partners LLC (”Leerink Partners”) entering into a sales agreement (the "Sales Agreement") with respect to an at-the-market offering program on May 8, 2024 under which the Company may offer and sell, from time to time at its sole discretion, ordinary shares of the Company having an aggregate offering price of up to
The Company is not obligated to make any sales of ordinary shares under the Sales Agreement. If any offering of ordinary shares is made, the Company or Leerink Partners may suspend or terminate any such offering upon notice to the other party and subject to other conditions. Leerink Partners may sell the ordinary shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended. If expressly authorized by the Company, Leerink Partners may also sell the ordinary shares in negotiated transactions.
The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which was filed with the U.S. Securities and Exchange Commission along with a prospectus supplement. Please refer to the Company’s SEC filings here and here, each dated May 8, 2024, for more details. These filings can be accessed through the Company’s website.
For more information, please visit:
http://www.oculis.com
Oculis Contact:
Ms. Sylvia Cheung, CFO
sylvia.cheung@oculis.com
Investor & Media Relations:
LifeSci Advisors
Corey Davis, Ph.D.
cdavis@lifesciadvisors.com
1-212-915-2577
FAQ
What did Oculis announce regarding its share capital on May 17, 2024?
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What is the at-the-market offering program announced by Oculis?
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