Press Release October 20, 2020

Capital Markets Team Advises Underwriters of $128.2 Million Opthea Initial Public Offering

The Life Sciences IPOs + Capital Markets team represented Citigroup and other underwriters of Opthea Limited’s (ASX:OPT, Nasdaq: OPT initial public offering in the United States of 8,563,300 American Depositary Shares (ADS), representing 68,506,400 ordinary shares, at an initial public offering price of US$13.50 per ADS, before underwriting discounts and commissions. 
 
In addition, and in lieu of ADSs, Opthea offered and sold to certain investors pre-funded warrants to purchase 936,700 ADSs at a public offering price of US$13.49999 per pre-funded warrant, which represents the initial public offering price per ADS, minus the US$0.00001 per ADS exercise price of each pre-funded warrant. The aggregate gross proceeds to Opthea are expected to be approximately US$128.2 million. Opthea has also granted the underwriters a 30-day option to purchase up to an additional 1,425,000 ADSs at the initial public offering price per ADS less underwriting discounts and commissions.
 
Opthea is a clinical stage biopharmaceutical company is a biopharmaceutical company developing a novel therapy to address the unmet need in the treatment of highly prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
 
The Goodwin team was led by Edwin O’Connor, Seo Salimi, Kyra Ayo Caros, Kim Larie, Christine Jeong, and Peter Rodas, and included Julie Tibbets, Alex Varond, Elizabeth Mulkey, Kristina Jacobs, Olivia Uitto, Roger Cohen, Bryna Shmerling, Madison Marcus, Jacqueline Klosek, Daniel Karelitz, Leon Peschel, Sarah Bock, and Brad Weber, with invaluable assistance from Kimberly Martin.
 
For more details, read the press release and articles in Endpoints, Law360, and News Break