By Devika Patel
Knoxville, Tenn., Jan. 27 - Oculus Innovative Sciences, Inc. said it has arranged a private placement of stock for $3 million.
The company will sell 3 million common shares along with 3.5 million warrants to VetCure Inc.
Of the warrants, 1.5 million are exercisable at $1.81 and 2 million are exercisable at $1.13. Also, upon exercise of the 2 million warrants, VetCure may purchase an additional 1 million common shares at $1.94 per share.
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: | $3 million
|
| Shares: | 3 million
|
| Warrants: | 3.5 million warrants
|
| Warrant strike price: | $1.81 (for 1.5 million warrants), $1.13 (for 2 million warrants)
|
| Investor: | VetCure Inc.
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| Pricing date: | Jan. 27
|
| Stock symbol: | Nasdaq: OCLS
|
| Stock price: | $1.10 at close Jan. 26
|
| Market capitalization: | $21.2 million
|
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