Market Newsdesk

PQ Group Holdings Completes Sale of Performance Materials; Board Declares Special Cash Dividend

MALVERN, Pa.–(BUSINESS WIRE)–
PQ Group Holdings Inc. (NYSE:PQG), a leading integrated and innovative global provider of specialty catalysts, chemicals and services, announced today that it has completed the sale of its Performance Materials business for a purchase price of $650 million, subject to customary closing adjustments, to an affiliate of The Jordan Company, L.P. (“TJC”), a U.S. middle-market private equity firm (www.thejordancompany.com) that was founded in 1982.

“With the sale of Performance Materials at an attractive valuation, we take a significant step in reshaping the PQ portfolio toward a higher-margin, higher-growth-potential business,” said Belgacem Chariag, PQ’s Chairman, President and Chief Executive Officer. “We are also pleased to expand our capital allocation with a special dividend, and we look forward to continuing to execute our strategic transformation in 2021, unlocking greater value for shareholders.”

The company expects to use after tax cash proceeds from the sale of its Performance Materials business to reduce its debt by approximately $465 million. In addition, the company’s Board of Directors has declared a special cash dividend of $250 million, or $1.80 per share, payable on December 29, 2020 to shareholders of record as of the close of business on December 21, 2020.

Goldman Sachs & Co., LLC and Harris Williams LLC are serving as financial advisors and Ropes & Gray LLP is serving as legal counsel for PQ. Kirkland & Ellis LLP is serving as legal counsel and Barclays Capital, Inc. is serving as financial advisor for TJC.

About PQ Group Holdings Inc.

PQ Group Holdings Inc. is a leading integrated and innovative global provider of specialty catalysts, chemicals and services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products, which are predominantly inorganic, and services contribute to improving the sustainability of the environment. We have three uniquely positioned specialty businesses: Refining Services provides sulfuric acid recycling to the North American refining industry; Catalysts serves the packaging and engineering plastics and the global refining, petrochemical and emissions control industries; and Performance Chemicals supplies diverse product end uses, including personal and industrial cleaning products, fuel efficient tires, surface coatings, and food and beverage products. For more information, see our website at https://www.pqcorp.com.

Note on Forward-Looking Statements

Some of the information contained in this press release constitutes “forward-looking statements.” Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Examples of forward-looking statements include, but are not limited to, statements regarding our future results of operations, financial condition, prospects, growth and strategies. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our ability to identify a strategic alternative for the Performance Chemicals business segment, regional, national or global political, economic, business, competitive, market and regulatory conditions, including the ongoing COVID-19 pandemic, tariffs and trade disputes, currency exchange rates and other factors, including those described in the sections titled “Risk Factors” and “Management Discussion & Analysis of Financial Condition and Results of Operations” in our filings with the SEC, which are available on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date of this release. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.

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Investor Contact:

Nahla A. Azmy

(610) 651-4561

[email protected]

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Chemicals/Plastics Other Manufacturing Manufacturing

MEDIA:

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Public Storage Issues Statement

GLENDALE, Calif.–(BUSINESS WIRE)–
Public Storage (NYSE:PSA) today issued the following statement in response to a letter from Elliott Associates, L.P. and Elliott International, L.P. (together, “Elliott”):

The Public Storage Board of Trustees and management team are committed to serving the best interests of the Company and its shareholders, and will continue to take decisive action to drive sustainable value creation.

Public Storage is the world’s largest owner, operator, and developer of self-storage properties, with a $46 billion total market capitalization. This success has come through executing strategies that promote the long-term resilience of its properties and of the Company, as well as enhancing shareholder value, resulting in the generation of 20-year Compounded Annual Growth Rates (CAGR) of: 7% for core funds from operations (FFO) per share¹, 12% for dividends per share and 16% for total shareholder return (vs. 7% for the S&P 500). Since the beginning of 2019, Public Storage has undertaken important growth initiatives and has significantly refreshed its Board of Trustees, including:

• Expanding its portfolio by approximately 13.9 million net rentable square feet, or 9%, through $1.9 billion of acquisitions, development, and redevelopment, including properties currently under contract and the approximately $500 million recent acquisition of the Beyond Storage Portfolio
• Delivering $471 million of properties from the Company’s development platform, the only one of its kind among public competitors, with a current pipeline of $563 million additional activity planned (in addition to the $1.3 billion previously delivered in 2013-2018)
• Executing a $500 million, five-year “Property of Tomorrow” investment program to improve customer satisfaction and enhance its existing portfolio
• Adding additional scale by growing its third-party property management business to a total of 113 properties
• Investing in its proprietary in-house technology platforms that drive operational capability, streamlining workflows and driving labor efficiencies, while enhancing customer and employee experiences
• Raising over $3 billion of debt and preferred capital to fund growth and lower in-place capital costs
• Driving revenue through both occupancy and rent optimization, resulting in leading revenue per available foot
• Aggregation of 33 million square foot non-same store portfolio, which provides significant embedded revenue growth as properties stabilize
• Adding five new independent Trustees in the past 18 months, who bring deep operational, technology, real estate investing, and corporate governance expertise, as well as proven track records as public company leaders and board members, and announcing the retirement of three longer-tenured Trustees, effective December 31, 2020, following which the average tenure of the Board will be approximately 6 years
• Year-to-date total shareholder returns of +6% compared to MSCI US REIT Index of -10%
• Last twelve months total shareholder returns of +9% compared to MSCI US REIT Index of -8%

In addition to Public Storage’s growth initiatives, the Company will drive performance through: (i) team and culture; (ii) brand, scale and superior operating platform; (iii) development leadership; and (iv) a balance sheet built upon financial strength, discipline, and flexibility to fund growth. The unique interplay among these drivers strengthens the Company’s business as it innovates across every component of the platform. Public Storage looks forward to discussing its strategy in more detail at its upcoming Investor Day, which will be held on May 3, 2021.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.

Additional information about Public Storage is available on the Company’s website at www.PublicStorage.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release, other than statements of historical fact, are forward-looking statements which may be identified by the use of the words “expects,” “believes,” “anticipates,” “should,” “estimates” and similar expressions. These forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact future results and performance include, but are not limited to, those described in Part 1, Item 1A, “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2020 and in our other filings with the SEC including: general risks associated with the ownership and operation of real estate, including changes in demand, risk related to development, expansion and acquisition of self-storage facilities, potential liability for environmental contamination, natural disasters and adverse changes in laws and regulations governing property tax, real estate and zoning; risks associated with downturns in the national and local economies in the markets in which we operate, including risks related to current economic conditions and the economic health of our customers; risks associated with the COVID Pandemic or similar events, including but not limited to illness or death of our employees or customers, negative impacts to the economic environment and to self-storage customers which could reduce the demand for self-storage or reduce our ability to collect rent, and/or potential regulatory actions to (i) close our facilities if we were determined not to be an “essential business” or for other reasons, (ii) limit our ability to increase rent or otherwise limit the rent we can charge or (iii) limit our ability to collect rent or evict delinquent tenants; risk that even after the initial restrictions due to the COVID Pandemic ease, they could be reinstituted in case of future waves of infection or if additional pandemics occur; risk that we could experience a change in the move-out patterns of our long-term customers due to economic uncertainty and the significant increase in unemployment in the last 30 days. This could lead to lower occupancies and rent “roll down” as long-term customers are replaced with new customers at lower rates. We observed such a trend during the recessionary circumstances of 2009; however, to date we have not seen any material change in the move-out patterns of long-term customers; risk of negative impacts on the cost and availability of debt and equity capital as a result of the COVID Pandemic, which could have a material impact upon our capital and growth plans; the impact of competition from new and existing self-storage and commercial facilities and other storage alternatives; the risk that our existing self-storage facilities may be at a disadvantage in competing with newly developed facilities with more visual and customer appeal; risk related to increased reliance on Google as a customer acquisition channel; difficulties in our ability to successfully evaluate, finance, integrate into our existing operations and manage properties that we acquire directly or through the acquisition of entities that own and operate self-storage facilities; risks associated with international operations including, but not limited to, unfavorable foreign currency rate fluctuations, changes in tax laws and local and global economic uncertainty that could adversely affect our earnings and cash flows; risks related to our participation in joint ventures; the impact of the legal and regulatory environment, as well as national, state and local laws and regulations including, without limitation, those governing environmental issues, taxes, our tenant reinsurance business, and labor, including risks related to the impact of new laws and regulations; risks of increased tax expense associated either with a possible failure by us to qualify as a REIT, or with challenges to the determination of taxable income for our taxable REIT subsidiaries; risks due to a November 2020 California ballot initiative (or other equivalent actions) that could remove the protections of Proposition 13 with respect to our real estate and result in substantial increases in our assessed values and property tax bills in California; changes in United States federal or state tax laws related to the taxation of REITs and other corporations; security breaches or a failure of our networks, systems or technology could adversely impact our operations or our business, customer and employee relationships or result in fraudulent payments; risks associated with the self-insurance of certain business risks, including property and casualty insurance, employee health insurance and workers compensation liabilities; difficulties in raising capital at a reasonable cost; delays and cost overruns on our projects to develop new facilities or expand our existing facilities; ongoing litigation and other legal and regulatory actions which may divert management’s time and attention, require us to pay damages and expenses or restrict the operation of our business; and economic uncertainty due to the impact of war or terrorism. These forward-looking statements speak only as of the date of this press release. All of our forward-looking statements, including those in this press release, are qualified in their entirety by this statement. We expressly disclaim any obligation to update publicly or otherwise revise any forward-looking statements, whether because of new information, new estimates, or other factors, events or circumstances after the date of these forward-looking statements, except when expressly required by law. Given these risks and uncertainties, you should not rely on any forward-looking statements in this press release, or which management may make orally or in writing from time to time, neither as predictions of future events nor guarantees of future performance.

Additional Information

In connection with Public Storage’s 2021 Annual Meeting of Shareholders (the “2021 Annual Meeting”), Public Storage intends to file a proxy statement and associated WHITE proxy card with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the 2021 Annual Meeting of Shareholders. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO, IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the relevant documents filed by the Company with the SEC, including the definitive proxy statement, when it becomes available, free of charge by visiting the SEC’s website, www.sec.gov. Investors and shareholders can also obtain, without charge, a copy of the definitive proxy statement, when available, and other relevant filed documents from the Company’s website at www.PublicStorage.com.

Certain Information Regarding Participants

Public Storage, its trustees, trustee nominees and certain of its executive officers will be deemed participants in the solicitation of proxies from shareholders in respect of the 2021 Annual Meeting. Information regarding the names of the Company’s trustees and executive officers and their respective interests in the Company by security holdings or otherwise is set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on February 25, 2020, and the Company’s definitive proxy statement for the 2020 Annual Meeting of Shareholders, filed with the SEC on March 12, 2020. To the extent holdings of such participants in the Company’s securities have changed since the amounts described in the proxy statement for the 2019 Annual Meeting of Shareholders, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the interests of these participants in any proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in any proxy statement and other relevant materials to be filed with the SEC, if and when they become available.

__________________________

¹ FFO per share is a non-GAAP measure defined by the National Association of Real Estate Investment Trusts and generally represents net income before depreciation and amortization expense, gains and losses and impairment charges with respect to real estate assets. A reconciliation of GAAP diluted net income per share to FFO per share, and additional descriptive information regarding this non-GAAP measure, is included in the Company’s SEC filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005795/en/

Ryan Burke

(818) 244-8080, Ext. 1141

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Construction & Property Other Construction & Property

MEDIA:

Posted on December 14, 2020 4:18 pm

Boston Properties Recognized as Highest Ranked Office REIT in Newsweek’s 2021 Most Responsible Companies Ranking

Boston Properties Recognized as Highest Ranked Office REIT in Newsweek’s 2021 Most Responsible Companies Ranking

Earns High Honors Among All Companies

BOSTON–(BUSINESS WIRE)–Boston Properties, Inc. (NYSE: BXP), the largest publicly-traded developer, owner and manager of Class A office properties in the United States, today announced that it has earned a sector leader position, through its recognition as the highest ranked office REIT on Newsweek’s America’s Most Responsible Companies 2021 list. BXP ranked second among all property companies, and 56^th overall out of the 400 companies included on this year’s list.

“I am proud of this recognition and BXP’s leadership position in ESG. Our commitment to ESG is core to our operations and a point of pride for our employees and our communities,” said Owen Thomas, CEO of BXP. “‘Our ability to deliver leading environmental, social and governance performance, in addition to positive economic results, is important to our customer, shareholder, community and employee stakeholders.”

Newsweek’s program recognizes the most responsible U.S. companies spanning 14 industries based on detailed analysis covering Environmental, Social and Governance (ESG) issues. The analysis was carried out in a four-phase process by Statista Inc., with a pool of 2,000 companies that were screened using different criteria. The detailed analysis consisted of an independent survey among 7,500 U.S. citizens and research based on publicly available key performance indicators derived from Corporate Annual Reports, CSR Reports, Sustainability Reports, and Corporate Citizenship Reports.

“We are one of America’s Most Responsible Companies because our team is comprised of America’s most responsible real estate professionals” said Ben Myers, Vice President, Sustainability, BXP. “Sustainability and social good are fundamental to our company culture from the board room to the boiler room and we work hard to strengthen ESG performance and transparency. Tackling ESG issues requires collective action, and we are encouraged to find ourselves leading the ESG journey with more of our stakeholders.”

BXP’s commitment to ESG leadership has been recognized by numerous industry groups, including the Company’s recent achievement of the highest 5-star 2020 GRESB rating, ninth consecutive GRESB Green Star and an “A” disclosure score. The Company earned top marks in Leadership, Policies, and Reporting in the GRESB assessment, as well as several categories specific to sustainable operations. In addition, BXP is a recognized leader in environmental responsibility, having been awarded both 2020 ENERGY STAR Partner of the Year and 2020 Best in Building Health. The Company has aligned its emissions reduction targets with climate science and, in 2020, completed the Science Based Targets Initiative approval process. BXP’s ESG Report outlines additional details on the Company’s Environmental, Social, and Governance disclosures and efforts.

About Boston Properties

Boston Properties (NYSE: BXP) is the largest publicly-held developer and owner of Class A office properties in the United States, concentrated in five markets – Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company is a fully integrated real estate company, organized as a real estate investment trust (REIT), that develops, manages, operates, acquires and owns a diverse portfolio of primarily Class A office space. The Company’s portfolio totals 51.2 million square feet and 196 properties, including seven properties under construction. For more information about Boston Properties, please visit our website at www.bxp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005781/en/

At the Company

Laura Sesody

Vice President, Corporate Marketing & Communications

[email protected]

617.236.3305

Sara Buda

Vice President, Investor Relations

[email protected]

617.236.3429

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT

MEDIA:

Posted on December 14, 2020 4:18 pm

TravelCenters of America Closes New $200 Million Term Loan

TravelCenters of America Closes New $200 Million Term Loan

WESTLAKE, Ohio–(BUSINESS WIRE)–TravelCenters of America Inc. (Nasdaq: TA) (“TA”) today announced the closing of a new $200 million senior secured term loan facility (“Term Loan”). Terms of the new loan include interest payable at LIBOR, with a floor of 100 basis points, plus 600 basis points and a seven-year maturity. The loan will amortize in equal quarterly installments in aggregate annual amounts equal to 1.00% of the original principal amount, with the balance payable on the final maturity date. The loan is prepayable after two years at par and is secured by a pledge of all the equity interests of substantially all of TA’s wholly owned subsidiaries and a pledge of substantially all of TA’s other assets and the assets of such wholly-owned subsidiaries. TA expects to use the net proceeds from the Term Loan for general business purposes, including funding of deferred capital expenditures, updates to key IT infrastructure, and growth initiatives consistent with its Transformation Plan.

“As we look ahead to 2021, we have the people, the plan, the processes and now the liquidity to advance our transformation playbook to help this great company begin to achieve its potential. This term loan provides for these opportunities, which we will carry out with caution and care while we continue to manage through an uncertain pace of recovery from the pandemic that lies ahead,” said Jonathan M. Pertchik, TA’s Chief Executive Officer. “By closing this new loan, we have further strengthened our balance sheet and given ourselves increased flexibility in a dynamic capital environment. TA is well-positioned to address remedial site-level maintenance and much-needed IT upgrades, as well as fund our growth initiatives.”

Citigroup Global Markets Inc., BofA Securities, Inc., PNC Capital Markets, LLC, U.S. Bank National Association and Wells Fargo Securities, LLC served as Joint Lead Arrangers for the Term Loan.

About TravelCenters of America Inc.

TravelCenters of America Inc. (Nasdaq: TA) is the nation’s largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its nearly 20,000 employees serve customers in over 270 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, convenience stores, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates nearly 650 full-service and quick-service restaurants and 10 proprietary brands, including Quaker Steak and Lube®, Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.

Warning Regarding Forward Looking Statements

This press release contains forward looking statements within the meaning of the private securities litigation reform act of 1995 and other securities laws. These forward looking statements are based upon TA’s present beliefs and expectations, but these statements are not guaranteed. For example:

• This press release states that TA intends to use the net proceeds from the offering for general business purposes, including funding deferred capital expenditures and updates to key IT infrastructure. However, the proceeds may be used for other purposes.
• Statements about transformational initiatives and implementation of transitional plans may imply that these changes and developments will result in improvements to TA’s business, operations and financial results. However, these changes may not be successful or sustainable. Further, even if they are successful and sustainable, other factors and risks may result in TA not achieving the benefits that it expects.
• Statements about TA’s balance sheet and liquidity may imply that TA has sufficient financial resources to fund operations for the foreseeable future, make new capital expenditures and invest in other growth initiatives. However, TA’s business is subject to various risks and uncertainties, many of which are outside TA’s control. For example, the COVID-19 pandemic has significantly negatively impacted the U.S. economy; if the current economic conditions continue for a sustained period or worsen, TA’s business, results of operations and financial condition may be materially adversely impacted. These and other risks and uncertainties may result in TA not having sufficient financial resources to fund operations, make capital expenditures or invest in growth initiatives for the foreseeable future.

For these reasons, among others, investors are cautioned not to place undue reliance upon forward looking statements. Except as required by law, TA does not intend to update or change any forward-looking statement as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005716/en/

Kristin Brown

TravelCenters of America

617-796-8251

[email protected]

KEYWORDS: Ohio United States North America

INDUSTRY KEYWORDS: Mobile/Wireless Oil/Gas Other Travel Energy General Automotive Transportation Technology Automotive Travel Trucking Transport Other Automotive

MEDIA:

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Ocular Therapeutix™ Announces Proposed Public Offering of Common Stock

BEDFORD, Mass.–(BUSINESS WIRE)–
Ocular Therapeutix™, Inc. (Nasdaq: OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that it has commenced an underwritten public offering of $75.0 million of its common stock. In addition, the Company is expected to grant the underwriters of the offering a 30-day option to purchase up to an additional $11.25 million of its common stock. All of the shares in the offering are to be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

Jefferies LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3 which became automatically effective upon filing with the Securities and Exchange Commission (SEC). This offering will be made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. Before investing in the offering, interested parties should read the prospectus supplement and the accompanying prospectus for the offering and the other documents the Company has filed with the SEC, which are incorporated by reference in the prospectus supplement and the accompanying prospectus for the offering and which provide more complete information about the Company and the offering. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus for the offering will be available on the website of the SEC at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may also be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, NY 10022, by telephone: (877) 821-7388, or by email: [email protected] or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone: (800) 747-3924, or by email: [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s first commercial drug product, DEXTENZA®, is FDA-approved for the treatment of ocular inflammation and pain following ophthalmic surgery. Ocular Therapeutix is evaluating product candidates for the treatment of other ocular conditions including various retinal diseases, glaucoma, dry eye disease, and allergic conjunctivitis.

Forward Looking Statements

Any statements in this press release about future expectations, plans, and prospects for the Company, including the Company’s expectations and plans regarding the proposed underwritten public offering and the Company’s anticipated use of proceeds of the offering, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend”, “goal,” “may”, “might,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the severity and duration of the COVID-19 pandemic including its effect on the Company’s and relevant regulatory authorities’ operations and the financial markets, the final terms of the proposed underwritten offering, the satisfaction of customary closing conditions related to the proposed underwritten public offering, the need for additional financing or other actions and other factors discussed in the “Risk Factors” section contained in the preliminary prospectus supplement related to the proposed underwritten public offering and the Company’s quarterly and annual reports on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005799/en/

Investors

Ocular Therapeutix

Donald Notman

Chief Financial Officer

[email protected]

or

Westwicke, an ICR Company

Chris Brinzey

Managing Director

[email protected]

Media

Ocular Therapeutix

Scott Corning

Senior Vice President, Commercial

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Research Surgery FDA Clinical Trials Biotechnology Pharmaceutical Health Optical Science Other Science

MEDIA:

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