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Monday, Aug 8, 2022
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Second Sight Raises $57.5 Million in Public Offering

Visual prosthetic developer Second Sight Medical Products announced the closing of a secondary offering of common stock that raised $57.5 million in gross proceeds.The offering of 11.5 million shares was listed at $5 per share, three days before closing. The offering included 1.5 million shares to be sold upon full exercise of the underwriter’s option to purchase additional shares.ThinkEquity, a division of Fordham Financial Management Inc., was the sole book-running manager for the public offering.The Sylmar-based company plans use the net proceeds for the development its Orion device and for general corporate purposes.Orion is a visual prosthesis system intended to give artificial vision to blind individuals. The system converts images captured by a mini video camera mounted on a pair of glasses into a series of small electrical pulses, bypassing diseased or injured eyes.Shares of Second Sight (EYES) closed Monday up 6 cents, or nearly 1.2 percent, to $5.22 on the Nasdaq on a day that market closed up nearly 1 percent.

Antonio Pequeño IV
Antonio Pequeño IV
Antonio “Tony” Pequeño IV is a reporter covering health care, finance and law for the San Fernando Valley Business Journal. He specializes in reporting on some of the biggest names in the Valley’s biotechnology sector. In addition to his work with the Business Journal, Tony has reported with BuzzFeed News on the unsupervised use of Clearview AI, a controversial facial recognition technology. Tony, who also conducts freelance reporting, graduated from the USC’s Master of Science in Journalism program in 2021. He is in his fifth year as a journalist as of 2021.
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