By Sheri Kasprzak
New York, Aug. 8 - Oculus Innovative Sciences is gearing up to wrap a $10.108 million private placement.
The company intends to sell 1,263,500 shares at $8.00 each to a group of institutional and other investors.
The investors also will receive warrants for 417,000 shares, exercisable at $9.50 each.
Proceeds will be used for ongoing phase 2 clinical trials of its Microcyn technology to treat mildly infected diabetic foot ulcers. The remainder will be used for phase 3 trials and operations.
Petaluma, Calif.-based Oculus develops products to treat and prevent infections in chronic and acute wounds.
| Issuer: | Oculus Innovative Sciences
|
| Issue: | Stock
|
| Amount: | $10.108 million
|
| Shares: | 1,263,500
|
| Price: | $8.00
|
| Warrants: | For 417,000 shares
|
| Warrant strike price: | $9.50
|
| Announcement date: | Aug. 8
|
| Stock symbol: | Nasdaq: OCLS
|
| Stock price: | $9.33 at close Aug. 7
|
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