Full Press Release Details
Sight Medical Products Announces Proposed Public Offering of Common Stock
Angeles, CA - (BUSINESS NEWSWIRE) - June 22, 2021 - Second Sight Medical Products, Inc. (NASDAQ: EYES) ("Second
Sight" or the "Company") a leading developer of implantable visual prosthetics that are intended to create an
artificial form of useful vision for blind individuals, today announced that it intends to offer to sell shares of its common
stock in an underwritten public offering. All of the shares of common stock are to be sold by the Company. The offering is subject
to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size
or terms of the offering.
a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.
Company intends to use the net proceeds from the offering primarily for development of the Orion device and general corporate
securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-256904), including a
base prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC") on June 8, 2021 and declared effective
on June 14, 2021. The offering will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying
prospectus describing the terms of the offering has been or will be filed with the SEC on its website at www.sec.gov. Copies of
the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from the offices
of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone
at (877) 436-3673 or by email at prospectus@think-equity.com. Before investing in this offering, interested parties should read
in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company
has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus,
which provide more information about the Company and such offering.
press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these
securities 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 such state or jurisdiction.
the Orion Visual Cortical Prosthesis System
Second Sight's 20 years of experience in neuromodulation for vision, the Orion Visual Cortical Prosthesis System (Orion)
is an implanted cortical stimulation device intended to provide useful artificial vision to individuals who are blind due to a
wide range of causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury. Orion is intended
to convert images captured by a miniature video camera mounted on glasses into a series of small electrical pulses. The device
is designed to bypass diseased or injured eye anatomy and to transmit these electrical pulses wirelessly to an array of electrodes
implanted on the surface of the brain's visual cortex, where it is intended to provide the perception of patterns of light.
A six-subject early feasibility study of the Orion is currently underway at the Ronald Reagan UCLA Medical Center in Los Angeles
and the Baylor College of Medicine in Houston. No peer-reviewed data is available yet for the Orion system.
Second Sight Medical Products, Inc.
Sight Medical Products, Inc. (Nasdaq: EYES) develops implantable visual prosthetics that are intended to deliver useful artificial
vision to blind individuals. A recognized global leader in neuromodulation devices for blindness, the Company is committed to
developing new technologies to treat the broadest population of sight-impaired individuals. The Company's headquarters are
in Los Angeles, California. More information is available at https://secondsight.com/.
press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions
of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "target,"
"believe," "expect," "will," "may," "anticipate," "estimate,"
"would," "positioned," "future," and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters. Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on Second Sight's current beliefs, expectations and assumptions.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially
from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking
statements include, among others, the following: (1) legal claims or proceedings relating to Second Sight's termination
of the Memorandum of Understanding with Pixium Vision and costs relating thereto; (2) changes in applicable laws or regulations;
(3) the possibility that Second Sight may be adversely affected by other economic, business, and/or competitive factors; (4) the
impact of COVID-19 on Second Sight's business; and (5) other risks and uncertainties indicated from time to time in Second
Sight's Form 10-K for the year ended December 31, 2020, as amended, including those under "Risk Factors" therein,
and in Second Sight's other filings with the SEC. Some of these risks and uncertainties may in the future be amplified by
the COVID-19 outbreak and there may be additional risks that Second Sight considers immaterial or which are unknown. A further
list and description of risks and uncertainties can be found in Second Sight's Annual Report on Form 10-K, filed on March
16, 2021 as amended on April 14, 2021 and on April 27, 2021 and Form 10-Q filed on May 13, 2021, and as thereafter amended. Any
forward-looking statement made by us in this press release is based only on information currently available to Second Sight and
speaks only as of the date on which it is made. Second Sight undertakes no obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise,
except as required by law.