By Devika Patel
Knoxville, Tenn., July 29 - Oculus Innovative Sciences, Inc. said it has arranged a registered direct offering of stock for approximately $6 million.
The company will sell 2,454,000 common shares at $2.45 apiece, along with warrants for 1,227,000 shares.
The warrants are exercisable at $3.3875 for five years.
Dawson James Securities is the agent.
Settlement is expected Thursday.
Petaluma, Calif.-based Oculus develops and markets products for the prevention and elimination of infection in chronic and acute wounds.
Issuer: | Oculus Innovative Sciences, Inc.
|
Issue: | Common stock
|
Amount: | $6 million
|
Shares: | 2,454,000
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Price: | $2.45
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Warrants: | For 1,227,000 shares
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Warrant expiration: | Five years
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Warrant strike price: | $3.3875
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Agent: | Dawson James Securities
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Pricing date: | July 29
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Settlement date: | July 30
|
Stock symbol: | Nasdaq: OCLS
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Stock price: | $2.57 at close July 28
|
Market capitalization: | $53.5 million
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