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hoping for the best. been here for a long time and have read the reports from Zacks. You do realize they are paid to do these reports and they have been saying optimistic things for years?
GLTAL
very positive but....
R/S is a real possibility unless we get significant news real soon
IMHO
plenty of good news but.....
we need FDA approval, BP joint agreement with cash and or significant revenue
Maybe a hostile takeover?
Wonder how the raise is going?
We will hopefully get an update by middle of Feb.
Need to be concerned about being below $1 and a potential R/S
I am still accumulating at these levels
Hope the raise is a success as you state. We should know by the end of February.
Will Mr. Williams make the 20M investment as he suggested?
We will know soon
GLTAL
Good read
I am still accumulating
run-up will happen when we least expect it
GLTAL
Very quiet - we need news
Anyone have thoughts as to the new $40M raise?
I think the warrants are the play as the maturity is extended
to 2024
I am interested in buying warrants, if the $40m raise closes and the warrant expiration is extended to 2024.
Gregg Williams, Chairman of the Board, has indicated his non-binding intention to participate in the rights offering in an amount of up to $20 million.
Second Sight Medical Products, Inc. (EYES) (“Second Sight” or the “Company”), a developer, manufacturer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, today announced a rights offering to raise $40 million. Second Sight plans to use the proceeds from the rights offering to: (i) continue gathering clinical and performance data to support safety and efficacy of Orion®; (ii) complete ongoing development of Argus® 2s, the Company’s next-generation externals and seek regulatory approvals; (iii) advance research in areas such as eye-tracking and object recognition; and (iv) for other operating and general corporate purposes.
Under the proposed rights offering:
•Holders of our common stock on January 15, 2019, the record date, will be able to participate in the rights offering.
•Shareholders will be entitled to invest $0.53 per share of common stock held on the record date towards purchase of units.
•Each unit will consist of one share of common stock and one warrant to purchase one share of common stock at a strike price of $1.47.
•The subscription price will equal the lower of (i) the closing price of our common stock on the announcement date of this rights offering, January 7, 2019, or (ii) the volume weighted average price of our common stock for the five trading day period through and including the Expiration Date, February 15, 2019 per unit.
•Rights are non-transferrable.
•Shareholders who fully exercise their basic subscription rights will be entitled, if available, to subscribe for additional units that are not purchased by other shareholders, on a pro rata basis and subject to ownership limitations, and on terms set forth in our prospectus supplement.
•Rights must be exercised and funds received by February 15, 2019 and closing is expected in late February and if not then exercised will expire having no value.
•The warrants are listed for trading on NASDAQ under the “EYESW” trading symbol.
•No minimum amount is necessary to be received in order for us to close the rights offering.
•The Company has agreed to extend the term of the warrants from March 14, 2022 through March 14, 2024 if the rights offering provides gross proceeds of at least $20 million, and if that amount is not obtained the original expiration date of the warrants will remain unchanged.
•Gregg Williams, Chairman of the Board, has indicated his non-binding intention to participate in the rights offering in an amount of up to $20 million.
A shelf registration statement on Form S-3 (No. 333-221228) relating to the shares of common stock was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective on November 9, 2017. The Company plans to file with the SEC on or about January 8, 2019, a prospectus supplement, relating to and describing the terms of the rights offering, as part of the registration statement. The prospectus supplement will be available on the SEC’s website. As soon as practicable following the record date, the Company intends to mail to shareholders of record on the record date the prospectus supplement and related documents for use in exercising subscription rights. Before you invest, you should read the prospectus supplement and other documents Second Sight has filed with the SEC for more complete information about Second Sight and the rights offering.
Any person who purchases shares prior to the record date will be deemed a holder of record with respect to those shares only if the transaction has settled by the record date. The standard settlement cycle in the United States is currently the trade date plus two business days. Investors wishing to participate in the Company’s offering are encouraged to contact their broker-dealer to ensure the settlement of transactions prior to the record date.
The information in this press release is not complete and is subject to change. 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. A registration statement on Form S-3 relating to these securities has been filed by the Company with the SEC. The rights offering will be made only by means of a prospectus supplement and of an accompanying base prospectus, copies of which will be mailed to eligible stockholders as of the record date. Investors should consider the Company's objectives and risks carefully before investing. The base prospectus contains this and additional information about the Company and the prospectus supplement contains this and additional information about the rights offering and should be read carefully before investing. A copy of the base prospectus and the prospectus supplement may be obtained on the website of the Securities and Exchange Commission at www.sec.gov. Questions about the rights offering and requests for copies of the prospectus relating to the rights offering may be directed to Broadridge Corporate Issuer Solutions, Inc., the Company's information agent for the rights offering, by calling 888-789-8409 (toll-free) or emailing shareholder@broadridge.com.
About Second Sight
Second Sight Medical Products, Inc. (EYES) develops, manufactures and markets implantable visual prosthetics that are intended to deliver useful artificial vision to blind individuals. A recognized global leader in neuromodulation devices for blindness, the Company is committed to developing new technologies to treat the broadest population of sight-impaired individuals.
Second Sight’s Argus® II Retinal Prosthesis System is the only FDA and CE Mark approved device for treating retinitis pigmentosa, with proven implant durability of multiple years. In 2016, the Company published five year results. Today, several Argus II devices have been implanted and continue to be operational in humans for more than 10 years. The Company is developing the Orion® Visual Cortical Prosthesis which is intended to provide useful artificial vision to individuals who are blind due to various causes. The Company’s U.S. headquarters are in Los Angeles, California and European headquarters are in Lausanne, Switzerland. More information is available
looks like the price has consolidated as volume has declined
we need to see positive results and sales
Will Williams continue to fund the trials in 2019?
GLTU
Happy New Year
latest reported short interest over 4M shares. A new high
Somebody does not believe
Why do you think the 1st qtr results are so important?
I emailed IR and they do not know when trial results will be reported
Maybe you are right about a leak of a failure in the trial
hit .6351
Maybe the co. will issue a PR?
WOW .75
Hard to believe!!!
We really need to get an update on the trials, hopefully in the first half of 2019
Who knows?
Second Sight Completes $3 million Private Placement of Common Stock with Gregg Williams, Chairman of the Board of Directors
LOS ANGELES, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Second Sight Medical Products, Inc. (EYES) (“Second Sight” or the “Company”), a developer, manufacturer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, today announced that it has entered into a stock purchase agreement effective December 12, 2018 with entities beneficially owned by Gregg Williams, Chairman of the Board of Directors of Second Sight, for the purchase of 3,275,100 shares of common stock priced at $0.916 per share, the last reported sale price of the common stock on the effective date. This placement of common stock is anticipated to yield gross proceeds of approximately $3 million to the Company.
Consistent with Mr. Williams’ prior direct investments in Second Sight, the funds will be used to support several important initiatives related to the Orion® Visual Cortical Prosthesis System (Orion), development of Argus® 2s (Argus 2s), the Company’s next-generation externals, and complementary technologies that can be integrated with artificial vision to provide a more interesting and useful experience for users.
“Gregg’s continued support allows us to further advance our significant initiatives for Orion and Argus 2s. We look forward to reporting data from the Orion six person feasibility study that we are conducting at Ronald Reagan UCLA Medical Center and Baylor College of Medicine as well as sharing our progress in defining the expected clinical and regulatory path for commercialization. We again thank Gregg for his investment and confidence,” stated Will McGuire, President and CEO of Second Sight.
“My investments in Second Sight reflect my belief in the potential of this incredibly innovative technology. Orion has the potential to offer a revolutionary new treatment option to millions of individuals worldwide who are blind from most any cause. I look forward to the Company continuing to meet its R&D and regulatory milestones with Orion while leveraging its leadership position in artificial vision prosthetics and rehabilitation,” said Gregg Williams, Chairman of the Board of Second Sight.
The common stock offered in the private placement has not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.
This announcement is neither an offer to sell nor a solicitation to buy the foregoing securities, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Second Sight
Second Sight Medical Products, Inc. (EYES) develops, manufactures and markets implantable visual prosthetics that are intended to deliver useful artificial vision to blind individuals. A recognized global leader in neuromodulation devices for blindness, the Company is committed to developing new technologies to treat the broadest population of sight-impaired individuals.
Second Sight’s Argus® II Retinal Prosthesis System is the only FDA and CE Mark approved device for treating retinitis pigmentosa, with proven implant durability of multiple years. In 2016, the Company published five year results. Today, several Argus II devices have been implanted and continue to be operational in humans for more than 10 years. The Company is developing the Orion® Visual Cortical Prosthesis which is intended to provide useful artificial vision to individuals who are blind due to various causes. The Company’s U.S. headquarters are in Los Angeles, and European headquarters are in Lausanne, Switzerland. More information is available at www.secondsight.com.
Anyone have an opinion as to this continuous drop in price?
Where is the bottom?
volume really drying up
getting closer to buying more
looking for tax selling to end soon before averaging down
hope to see insider buying resume
going lower. Tax losses?
No insider buying lately
Don't know what to think at .94
getting close to my buying range..... again
getting close to my buying range
Hope we stay over $1. Don't want to get delisted or forced to do a reverse split.
Williams has not done any buying lately
Will probably need to do a raise in 2019
Hoping to buy more under a buck by years end.
Anyone still out there?
Right at the 52 week low on good volume.
Until we get an update on the trials, I expect further weakness
Haven't seen Williams make any additional buys at these low prices
Any thoughts?
Hopefully....
We will get an indication as to when we will see some results of the trials at tomorrow's conference call
How long can Williams fund the company?
I agree earnings report is non event next week
Wish we had a handle on when significant progress will be forthcoming.
Very fortunate Williams has been funding the company or the PPS would be much lower. Certainly under a dollar
Timing is the name of the game
GLTU
It just shows news is not imminent
IMHO
While I believe EYES is a good risk reward investment, I wouldn't expect to see any significant move imminently upward. Just back and fill. I would like to other insider buying. The CEO sold 10k
shares last week and has sold 16k shares in the last few months. Why? He earns 600k a year.
Maybe Williams will take the company private down the road?
Did you notice Williams funded EYES $4M - 2,467,767 shares at a $1.62 on the 18th for Orion?
He continues to buy and so will I
thx for the info. Listened to podcast. Certainly no hype
still think insider buying and hiring of expert in mfg. are positive signs. Need patience. Never know when something could happen. Continue to add on weakness
Anyone have any guess when we might get updates on the trials?
looking to buy some at .85 - .90
c/b a trade if you have patience
The delay is significant. 40 more to be added to trial will cost more than $1M and 1-1/2 years in time
I have suggested going private as well. Williams has been on the BOD since 2009 but started buying regularly last year. He has more than 30M shares and has funded the company w/o a discount to the mkt.
Something is going to happen soon IMHO
Well EYES has retraced.
Need news, but still insider buyer
Any thoughts?