8-K
filed May 18, 2023, 7:59 PM ET
CIK 0001267602
M&A
confidence high
sentiment positive
materiality 0.90
ALIMERA SCIENCES INC: M&A transaction — Alimera acquires U.S. rights to YUTIQ from EyePoint for $75M; projects $100M revenue in 2024
ALIMERA SCIENCES INC
- Upfront payment of $75M plus $7.5M guaranteed quarterly payments in 2024; royalties from 2025 at mid-to-low double digits on US net sales above thresholds starting $70M.
- Concurrent $69M equity raise via Series B Preferred and common stock; $20M additional term loan from SLR.
- Alimera projects at least $100M consolidated net revenue and >$20M Adjusted EBITDA in 2024.
- Board changes: Dr. Garheng Kong resigned; Jason Werner (Velan designee) appointed to Board.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.95
ALIMERA SCIENCES INC: Filed Certificate of Amendment authorizing additional Series B Preferred Stock shares and changes to that series (effective 2023-05-16).
- Change
- charter amendment
- Effective
- 2023-05-16
Exact text from the filing
In connection with the Tranche 2 Closing, on May 16, 2023, Alimera filed the Certificate of Amendment with the Secretary of State of the State of Delaware authorizing the additional shares of Series B Preferred Stock and the changes to such series described in Item 1.01.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
ALIMERA SCIENCES INC completed an acquisition involving EyePoint Pharmaceuticals, Inc. for $75 million upfront payment plus four quarterly guaranteed payments totaling $7.5 million during 2024 and royalties (closed 2023-05-17).
- Action
- acquisition
- Counterparty
- EyePoint Pharmaceuticals, Inc.
- Consideration
- $75 million upfront payment plus four quarterly guaranteed payments totaling $7.5 million during 2024 and royalties
- Closing
- 2023-05-17
Exact text from the filing
(“ Alimera ” or the “Company”) entered into a product rights agreement (the “ Product Rights Agreement ”) with EyePoint Pharmaceuticals, Inc. (“ EyePoint ”) whereby Alimera was granted an exclusive and sublicensable (in accordance with the terms of the Product Rights Agreement) right and license (the “ License ”) under EyePoint’s and its affiliates’ interest in certain of EyePoint’s and its affiliates’ intellectual property to develop, manufacture, sell, commercialize and otherwise exploit certain products, including YUTIQ ® (fluocinolone acetonide intravitreal implant) 0.18 mg, for the treatment and prevention of uveitis in the entire world, except Europe, the Middle East and Africa (the “ Licensed Territory ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ALIMERA SCIENCES INC entered into Supply Agreement with EyePoint Pharmaceuticals, Inc..
- Action
- entry
- Agreement
- supply
- Counterparty
- EyePoint Pharmaceuticals, Inc.
Exact text from the filing
In connection with the Transaction, Alimera entered into a commercial supply agreement (the “ Supply Agreement ”) with EyePoint
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ALIMERA SCIENCES INC entered into Product Rights Agreement with EyePoint Pharmaceuticals, Inc. valued at $75 million (effective 2023-05-17).
- Action
- entry
- Agreement
- license
- Counterparty
- EyePoint Pharmaceuticals, Inc.
- Value
- $75 million
- Effective
- 2023-05-17
Exact text from the filing
On May 17, 2023 (the “ Closing Date ”), Alimera Sciences, Inc. (“ Alimera ” or the “Company”) entered into a product rights agreement (the “ Product Rights Agreement ”) with EyePoint Pharmaceuticals, Inc. (“ EyePoint ”)
View on SEC.gov
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