Alimera Sciences Prices Public Offering of Common Stock

8/11/16

ATLANTA, Aug. 11, 2016 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a pharmaceutical company that specializes in research, development and commercialization of prescription ophthalmic pharmaceuticals, today announced the pricing of an underwritten public offering of 18,000,000 shares of its common stock at a price to the public of $1.40 per share. In connection with the offering, Alimera has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock at the public offering price to cover over-allotments, if any. Gross proceeds from the sale of shares are expected to be approximately $25.2 million, excluding any exercise of the underwriters’ option to purchase additional shares. All shares in this offering are being sold by Alimera. This offering is expected to close on or about August 16, 2016 subject to customary closing conditions.

Alimera anticipates using the net proceeds to fund the continued commercialization of ILUVIEN® and for working capital and other general corporate purposes.

Cowen and Company, LLC is acting as the sole book-running manager and Laidlaw & Company (UK) Ltd. is acting as a co-manager in the common stock offering.

About Alimera Sciences, Inc.

Alimera, founded in June 2003, is a pharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people in aging populations.

Alimera’s European operations are conducted from London by its subsidiary, Alimera Sciences Limited, which has offices in Aldershot, United Kingdom, Berlin, Germany and Lisbon, Portugal.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.