SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES) Files An 8-K Other Events
Item 8.01Other Events.

Effective April 7, 2017, the Alfred E. Mann Living Trust (“Mann Trust”) sold an aggregate of 6,644,991 shares of Second Sight (“Company”) common stock and warrants to purchase an additional 360,000 shares of common stock to a group of individual private investors. Gregg G. Williams, who is a member of the Company’s Board of Directors and the Company’s largest shareholder, acquired 4,000,000 of these shares and 216,705 of these warrants through the Gregg G. Williams 2006 Trust, of which Mr. Williams is the sole trustee. The Company believes that the securities sold in this transaction represent the Mann Trust’s total remaining holdings of the Company’s securities as of the transaction’s effective date.

The Mann Trust was established by Alfred E. Mann, the Company’s late co-founder and Chairman. Mr. Williams’s father, Sam Williams, was also a co-founder of the Company.

As a result of this transaction Mr. Williams may be deemed to be the beneficial owner of 19,367,848 shares of the Company’s common stock, or 34% of the Company’s outstanding common shares. Included in these holdings are 6,802,721 shares of common stock that Mr. Williams acquired in the Company’s rights offering that closed on March 14, 2017. In addition to these shares, Mr. Williams owns warrants to purchase 7,474,347 shares of the Company’s common stock, including (i) 6,802,721 warrants exercisable at $1.47 per share acquired by Mr. Williams in the recent rights offering, (ii) 214,921 warrants, exercisable at $5.00 per share, that were acquired in or around July 2012, (iii) 240,000 warrants exercisable at $5.00 per share, that were acquired in or about February 2013, and (iv) 216,705 warrants, exercisable at $5.00 per share, acquired from the Mann Trust as of April 7, 2017.

About SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES)

Second Sight Medical Products, Inc. is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight. It does not restore normal vision and it does not slow or reverse the progression of the disease. The Company’s Argus II System employs electrical stimulation to bypass degenerated photoreceptor cells and to stimulate remaining viable retinal cells thereby inducing visual perception in blind individuals. The Argus II System works by converting video images captured by a miniature camera housed in a patient’s glasses into a series of small electrical pulses that are transmitted wirelessly to an array of electrodes that are implanted on the surface of the retina.

SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES) Recent Trading Information

SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES) closed its last trading session up +0.02 at 1.20 with 214,453 shares trading hands.