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OKYO Pharma Limited: Closing of Global Private Placement
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London, March 16, 2023 – OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO), an ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (“DED”) to address the significant unmet need in this multi-billion-dollar market,  announces that its “reasonable best efforts” offering of its American Depositary Shares (“ADSs”) on the Nasdaq Capital Market (the “U.S. Offering”) and a subscription for new ordinary shares of no par value (the “Ordinary Shares”) (the “Subscription” and, together with the U.S. Offering, the “Global Private Placement”), closed after UK market hours in the United States yesterday.


OKYO has issued 3,503,665 new ADSs (representing 227,738,225 new Ordinary Shares) (“New ADSs”) to certain investors at a price of U.S.$1.50 per New ADS (“U.S. Offering Price”) raising gross proceeds of approximately U.S.$5.3 million (before deducting expenses). Each New ADS offered in the U.S. Offering represents 65 Ordinary Shares.


OKYO has also issued 8,673,658 new Ordinary Shares (the “Subscription Shares”) to investors (including Gabriele Cerrone) at a price of U.S.$0.2 per new Subscription Share (equivalent to U.S.$1.50 per New ADS) raising gross proceeds of approximately U.S.$0.2 million (before deducting expenses).


Additional director and management participation was by way of capitalisation of approximately US$0.1 million of deferred fees and salaries at the U.S. Offering Price and resulted in the issue of an additional 5,162,498 new Ordinary Shares.


No commissions are payable by the Company to any brokers or third parties in connection with the Global Private Placement.


All New ADSs and Subscription Shares sold in the Global Private Placement were offered by the Company utilising the full balance of the Company’s headroom to admit securities to listing on the standard segment of the Official List of the UK Financial Conduct Authority.


OKYO intends to use the net proceeds of the Global Private Placement to advance OK-101 to fund the initial Phase 2 clinical trial of OK-101 in DED patients, and for working capital and other general corporate purposes.



Closing of Global Private Placement – 07:00:03 16 Mar 2023 – OKYO News article | London Stock Exchange


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