OKYO Pharma Prices 10.8M Shares at $1.85, Raises $20M
OKYO Pharma priced a public offering of 10,815,000 ordinary shares at $1.85 each, raising gross proceeds of approximately $20 million (up to $23 million with underwriter option). Net proceeds will fund clinical development, general corporate purposes and working capital.
1. Offering Pricing and Size
OKYO Pharma has underwritten a public offering of 10,815,000 ordinary shares at $1.85 per share, generating gross proceeds of approximately $20 million. The company granted the underwriter a 30-day option to purchase up to 1,622,250 additional shares at the same price, potentially increasing gross proceeds to $23 million.
2. Use of Net Proceeds
The company intends to allocate net proceeds primarily to advance clinical development of its investigational therapies, along with funding general corporate purposes and bolstering working capital to support ongoing operations.
3. Underwriter and Registration Details
Piper Sandler & Co. is serving as sole manager for the offering, which is being conducted under a shelf registration statement declared effective on February 10, 2026. The securities are being offered pursuant to a preliminary prospectus supplement and accompanying base prospectus.
4. Closing Timeline and Conditions
The offering is expected to close on or about February 17, 2026, subject to customary closing conditions. Completion of the transaction depends on satisfaction of these conditions and final documentation.