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Press release from GlobeNewswire (a Nasdaq OMX company)

TearLab Corporation Prices $35.1 Million Public Offering of Common Stock

Thursday, July 25, 2013

TearLab Corporation Prices $35.1 Million Public Offering of Common Stock

06:00 EDT Thursday, July 25, 2013

SAN DIEGO, July 25, 2013 (GLOBE NEWSWIRE) -- TearLab Corporation (Nasdaq:TEAR) (TSX:TLB) today announced the pricing of an underwritten public offering of 2,600,000 shares of its common stock at a price to the public of $13.50 per share for gross proceeds of $35.1 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by TearLab, will be approximately $32.6 million. TearLab has also granted the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover overallotments.

TearLab currently plans to use the net proceeds from this offering for commercialization of its products, research and development, working capital and other general corporate purposes. The offering is expected to close on or about July 30, 2013, subject to the satisfaction of customary closing conditions.

Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC are acting as joint book-running managers for the offering. Roth Capital Partners, LLC and Feltl and Company, Inc. are acting as co-managers.

A shelf registration statement (File No. 333-189372) relating to these securities was filed on June 17, 2013, as amended, and declared effective by the Securities and Exchange Commission on July 12, 2013. A preliminary prospectus supplement related to the offering was filed with the Securities and Exchange Commission on July 22, 2013. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting the below book-running managers at the following addresses:

Canaccord Genuity Inc.
Attention: Syndicate Department
99 High Street, 12th Floor
Boston, MA 02110
Telephone: (617) 371-3900
Email: USecm@canaccordgenuity.com
 
Craig-Hallum Capital Group LLC
222 South Ninth Street, Suite 350
Minneapolis, MN 55402
Telephone: 612-334-6300,
Email: jackmccarthy@craig-hallum.com

An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering is available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of TearLab, and shall not constitute an offer, solicitation or sale of any security 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.

Forward-Looking Statements

In order to provide TearLab's investors with an understanding of our current intentions and future prospects, this release may contain statements that are forward-looking. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "intends," "potential," "possible" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include our expectations regarding the proposed offering and the use of proceeds from such offering. Forward-looking statements involve risks and uncertainties related to our business and the general economic environment, many beyond our control. These risks, uncertainties and other factors could cause our actual results to differ materially from those projected in forward-looking statements, including market risk and the risks we identify in reports filed with the SEC. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of our risks and uncertainties, you are encouraged to review the official corporate documents filed with the SEC. TearLab does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof.

About TearLab Corporation

TearLab Corporation (www.tearlab.com) is an in-vitro diagnostic company based in San Diego, California. TearLab is commercializing a proprietary tear testing platform, the TearLab® Osmolarity System, which enables eye care practitioners to test for highly sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. TearLab Corporation's common shares trade on the NASDAQ Capital Market under the symbol "TEAR" and on the Toronto Stock Exchange under the symbol "TLB".

CONTACT: Stephen Kilmer
(905) 906-6908
skilmer@tearlab.com

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