SYLMAR, Calif.—Second Sight Medical Products announced the completion of its rights offering, which expired at 5:00 p.m. New York time on Feb. 15, 2019. The company reported that it received aggregate gross proceeds from the rights offering of approximately $34.6 million. “We are grateful to our existing shareholders for their support. The proceeds from this offering will enable us to continue gathering safety and efficacy data to advance the development of our proprietary Orion cortical visual prosthesis, and seek regulatory approval and ultimately commercialize Argus 2s,” said Second Sight president and CEO Will McGuire.

“This financing allows us to progress toward our goal of making the dream of sight a reality for blind individuals around the world by developing commercially successful products that provide useful artificial vision.”

Second Sight said it expects distribution of the shares and warrants on or about Feb. 22, 2019.