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.

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