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Clearside Biomedical prices common stock offering

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Clearside Biomedical prices common stock offering

Clearside BioMedical Inc. priced an underwritten public offering of 4 million common shares at $9 per share.

The company granted the underwriters an option to buy up to an additional 600,000 shares at the offering price, minus the underwriting discount.

Clearside recently started an underwritten public offering for $75 million of its common stock and planned to grant the underwriters an option to acquire up to an additional $11.25 million of common stock.

Clearside expects the offering to generate gross proceeds of $36.0 million. It plans to use the proceeds to fund the clinical trial programs related to its Zuprata drug, research and development of its earlier-stage programs, working capital and general corporate purposes.

The offering is expected to close Dec. 14, subject to customary closing conditions.

J.P. Morgan Securities LLC and Cowen and Co. LLC are joint active book-running managers for the offering, with Stifel Nicolaus & Co. Inc. as passive book-running manager. Wedbush Securities Inc. is acting as a co-manager for the offering.