San Fernando Valley Business Journal

Second Sight Warrants Approved for Trading

By Joel Russell Monday, 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.