TearLab Corp fka TEAR

[Wildbilly]

TearLab Announces Exercise of Underwriters' Over-Allotment Option and Closing of $40.4 Million Public Offering of Common Stock

SAN DIEGO, July 30, Jul 30, 2013 (GLOBE NEWSWIRE via COMTEX) -- TearLab
Corporation (Nasdaq:TEAR) (TSX:TLB) today announced that it has closed the
previously announced underwritten public offering of 2,990,000 shares of its
common stock at a price to the public of $13.50 per share for gross proceeds of
approximately $40.4 million. The shares include 390,000 shares of common stock
sold pursuant to the over-allotment option granted by TearLab to the
underwriters, which option was exercised in full. The net proceeds from the sale
of the shares, after deducting the underwriters' discounts and other estimated
offering expenses payable by TearLab, will be approximately $37.5 million.

TearLab currently plans to use the net proceeds from this offering for
commercialization of its products, research and development, working capital and
other general corporate purposes.

Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC acted as joint
book-running managers for the offering. Roth Capital Partners, LLC and Feltl and
Company, Inc. acted as co-managers.

A shelf registration statement (File No. 333-189372) relating to these
securities was filed on June 17, 2013, as amended, and declared effective by the
Securities and Exchange Commission on July 12, 2013. An additional registration
statement relating to these securities (File No. 333-190116), which became
effective upon filing, was also filed on July 25, 2013 by TearLab pursuant to
Rule 462(b) of the Securities Act of 1933. A final prospectus supplement and
accompanying prospectus describing the terms of the offering was filed with the
SEC on July 25, 2013. Copies of the prospectus supplement and accompanying
prospectus relating to the offering may be obtained by contacting the below
book-running managers at the following addresses:



Canaccord Genuity Inc.              

Attention: Syndicate Department      

99 High Street, 12th Floor          

Boston, MA 02110                    

Telephone: [phone]            

Email: [e-mail]    

                                    

Craig-Hallum Capital Group LLC      

222 South Ninth Street, Suite 350    

Minneapolis, MN 55402                

Telephone: [phone],            

Email: [e-mail]



An electronic copy of the prospectus supplement and accompanying prospectus
relating to the offering is available on the website of the Securities and
Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy any securities of TearLab, and shall not constitute an offer,
solicitation or sale of any security in any state or 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

In order to provide TearLab's investors with an understanding of our current
intentions and future prospects, this release may contain statements that are
forward-looking. Any statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking statements.
Words such as "believes," "anticipates," "plans," "expects," "will," "intends,"
"potential," "possible" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements include our
expectations regarding the proposed offering and the use of proceeds from such
offering. Forward-looking statements involve risks and uncertainties related to
our business and the general economic environment, many beyond our control.
These risks, uncertainties and other factors could cause our actual results to
differ materially from those projected in forward-looking statements, including
market risk and the risks we identify in reports filed with the SEC. Although we
believe that the forward-looking statements contained herein are reasonable, we
can give no assurance that our expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary
statement. For a detailed description of our risks and uncertainties, you are
encouraged to review the official corporate documents filed with the SEC.
TearLab does not undertake any obligation to publicly update its forward-looking
statements based on events or circumstances after the date hereof.

About TearLab Corporation

TearLab Corporation (www.tearlab.com) is an in-vitro diagnostic company based in
San Diego, California. TearLab is commercializing a proprietary tear testing
platform, the TearLab Osmolarity System, which enables eye care practitioners to
test for highly sensitive and specific biomarkers using nanoliters of tear film
at the point-of-care. TearLab Corporation's common shares trade on the NASDAQ
Capital Market under the symbol "TEAR" and on the Toronto Stock Exchange under
the symbol "TLB".



CONTACT: Stephen Kilmer

         [phone]

         [e-mail]

http://www.globenewswire.com/newsroom/ti?nf=MTMjMTAwNDI0ODEjMTg3MjU=




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KEYWORD:          SAN DIEGO, July 30

INDUSTRY KEYWORD: Healthcare & Medical Services

SUBJECT CODE:     Stock Market News

                  MEDICAL

                   CORPORATE

Source: Comtex Wall Street News