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Presbia Announces Price and Key Dates Related to Rights Offering

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Presbia Announces Price and Key Dates Related to Rights Offering

DUBLIN--(BUSINESS WIRE)-- Presbia PLC (NASDAQ: LENS), an ophthalmic device company and leader in near-vision restoration, announces the key dates relative to its rights offering. Shareholders are advised to ensure they own Presbia's ordinary shares as of 5 PM ET on February 1, 2017 to be considered a shareholder of record on February 6, 2017. Shareholders are advised to direct all questions and informational requests to the contacts listed below.

Under the rights offering, Presbia plans to distribute, at no charge, 0.335297256 subscription rights for each ordinary share owned at 5:00 PM Eastern Time on February 6, 2017, the record date for this rights offering. Under the rights offering, Presbia plans to offer up to 4,500,000 ordinary shares. No fractional shares will be issued. The subscription price per whole share is $3.00. Holders who exercise their subscription rights in full will be entitled, if available, to subscribe for additional ordinary shares that are not purchased by other shareholders.

The subscription rights are non-transferable and non-tradeable and may only be exercised during the anticipated subscription period of February 7, 2017 through 5:00 PM ET on February 23, 2017, unless extended.

The expected calendar for the rights offering is as follows:

  • February 1, 2017: Ownership Day — in order to be considered a shareholder of record on February 6, 2017: Shares should be acquired by this date
  • February 6, 2017: Record Date
  • February 7, 2017: Distribution Date; Subscription Period Begins
  • February 23, 2017: Subscription Period Ends 5:00 PM ET*

* Unless extended in Presbia's sole discretion

Presbia intends to use the net proceeds from this rights offering 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 that are complementary to their own.

A registration statement relating to the securities has been filed with the Securities and Exchange Commission and was declared effective by the Securities and Exchange Commission on January 26, 2017. The registration statement is available on the SEC's web site at http://www.sec.gov. The rights offering is being made only by means of a written prospectus forming part of the effective registration statement. Copies of the written prospectus for the rights offering may be obtained, when available, by contacting Georgeson LLC, the information agent, at (866) 628-6024.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated dates for the rights offering and anticipated uses of proceeds from rights offering. Information provided and statements contained in this press release that are not purely historical are forward-looking statements. Such forward-looking statements only speak as of the date of this press release and Presbia assumes no obligation to update the information included in this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties, including, but not limited to, the factors listed under "Risk Factors" in our annual report on Form 10-K and quarterly reports on Form 10-Q, as well as the Registration Statement on Form S-1 filed on December 5, 2016. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Although Presbia believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, Presbia also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this press release.

About Presbia

Presbia PLC (NASDAQ:LENS) is an ophthalmic device company that has developed and is currently marketing the presbyopia-correcting Presbia Flexivue Microlens™, a miniature lens that is implanted in a corneal pocket created by a femtosecond laser. The Presbia Flexivue Microlens™ has received a CE mark for the European Economic Area, allowing the lens to be marketed in over 30 countries across Europe. A staged pivotal U.S. clinical trial for the Presbia Flexivue Microlens™ commenced in 2014.

Presbia PLC
Jarett Fenton, 949-502-7036
[email protected]

Source: Presbia PLC

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