By Devika Patel
Knoxville, Tenn., March 28 - Oculus Innovative Sciences, Inc. said it has arranged a $13.93 million units offering, which is being made under the company's shelf registration, which was filed Feb. 13 and declared effective Feb. 26.
The company will sell 2,652,673 units at $5.25 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at $6.85.
Rodman & Renshaw, LLC is the agent. The deal is expected to settle April 1.
Proceeds will be used for general corporate purposes, including preparations related to Oculus' planned Phase III clinical trial, for working capital and operational purposes and future acquisitions and strategic investment opportunities.
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: | Units of one common share and a half-share warrant
|
| Amount: | $13,926,533.50
|
| Units: | 2,652,673
|
| Price: | $5.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | $6.85
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | March 28
|
| Settlement date: | April 1
|
| Stock symbol: | Nasdaq: OCLS
|
| Stock price: | $6.84 at close March 27
|
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