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Thursday, Mar 28, 2024

Second Sight Warrants Approved for Trading

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.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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