Olshan Represents Velan Capital in up to $27 Million PIPE for Alimera Sciences, Inc.
Olshan client Velan Capital co-led an investment in a $12 million PIPE consisting of Series B preferred stock and warrants to purchase shares of common stock of Alimera Sciences, Inc. (NASDAQ: ALIM). The securities purchase agreement for the transaction also provides for an additional tranche of up to $15 million of Series B preferred stock for potential in-licenses or product acquisitions, at the mutual agreement of Alimera and the investors. As part of the transaction, two new directors were appointed to Alimera’s board – including Adam Morgan of Velan Capital – to replace two incumbent directors, and Alimera agreed to seek stockholder approval to declassify the board at its 2024 annual meeting. Partners Ryan Nebel and Michael Neidell, associate Joshua Park and law clerk Ryan Busch represented Velan Capital.
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