By Sheri Kasprzak
Atlanta, Feb. 14 - Vision-Sciences, Inc. said it has wrapped a $10 million private placement of stock.
The company sold 3,703,702 shares at $2.70 each to four investors, two of which are independent of the company and two of which are significant shareholders or directors of the company.
The investors also received warrants for 1,103,704 shares at $3.75 each for five years.
Rodman & Renshaw LLC was the placement agent.
Based in Natick, Mass., Vision-Sciences develops, manufactures and markets endoscopic products. The proceeds will be used for product development activities.
| Issuer: | Vision-Sciences, Inc.
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| Issue: | Stock
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| Amount: | $10 million
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| Shares: | 3,703,702
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| Price: | $2.70
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| Warrants: | For 1,103,704 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $3.75
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| Placement agent: | Rodman & Renshaw LLC
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| Pricing date: | Feb. 14
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| Stock price: | $2.96 at close Feb. 14
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