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Presbia prices rights offering

Ophthalmic device company Presbia PLC priced its rights offering of 4.5 million ordinary shares at a subscription price per whole share of $3.00.

Under the rights offering, Presbia plans to distribute, at no charge, 0.335297256 subscription right per ordinary share owned on Feb. 6. Shares should be acquired by Feb. 1 to be considered a shareholder of record on Feb. 6.

Holders who exercise their subscription rights in full could subscribe for additional ordinary shares not purchased by other shareholders.

The subscription rights are nontransferable, nontradeable and may only be exercised during the anticipated subscription period of Feb. 7 to Feb. 23, unless extended.

Presbia plans to use net proceeds for general corporate purposes, including funding its U.S. staged pivotal trial for its Flexivue Microlens and Microlens inserter, funding its commercialization efforts, research and development activities related to the microlens inserter, product manufacturing, and acquisitions or investments in businesses, products or technologies.