Eyebrain Medical yesterday filed an amendment to its SEC Form D to confirm the sale of more than $23.8 million in an equity offering.
The offering is slated to collect just shy of $24 million, leaving the Costa Mesa, Calif.-based company with $180,026 remaining to be sold. Eyebrain Medical made the first sale on July 24, 2019, and does not intend for the offering to last more than one year.
There is no minimum investment required to enter the offering, as 24 investors have already participated in some form, according to the SEC filing.
Eyebrain Medical did not disclose any intended use of proceeds in the filing itself. The company is developing the Neurolens system of prescription lenses designed to add a contoured prism, bringing the eyes into alignment and relieving stress on the trigeminal nerve.
The company touts this technology as the first of its kind and revealed that patient satisfaction surveys showed that 93% of patients respond positively to their Neurolenses.