Second Sight Warrants Approved for TradingMonday, March 27, 2017
Second Sight Medical Products Inc. announced Monday that warrants issued in connection with a recent rights offering have been approved for listing on Nasdaq and are scheduled to begin trading on March 29.
The Sylmar company, which makes prosthetic devices for blind patients, held a rights offering earlier this month and raised about $19.7 million. Under the offering, the company sold 13.7 million units, with each unit including one share of Second Sight stock and a warrant to buy another share at a strike price of $1.47 before expiration on March 14, 2022.
The warrants will trade under the ticker symbol EYESW, an extension of Second Sight’s stock ticker EYES.
In a statement, Chief Executive Will McGuire said the proceeds of the offering would allow the company to improve the performance of its devices and “expand our market to include better-sighted patients.”
Shares of Second Sight closed Monday up 4 cents or 3.2 percent to $1.28 on the Nasdaq.