By Devika Patel
Knoxville, Tenn., Feb. 9 - Oculus Innovative Sciences, Inc. took in $1.75 million from a private placement of units on Feb. 6, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold units at $116.90 apiece. Each unit consists of 100 common shares and two warrants.
Each series A warrants is exercisable for 58 common shares at $1.87 per share for five years.
Each series B warrants is exercisable for 78 common shares at $1.13 per share for three years.
For every two shares an investor purchases upon exercise of a series B warrant, the investor will receive an additional series C warrant for one share. The series C warrant is exercisable at $1.94 for five years.
Merriman Curhan Ford and Co. was the agent.
Proceeds will be used for working capital and general corporate purposes.
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 100 common shares, a series A warrant for 58 shares and a series B warrant for 78 shares
|
| Amount: | $1,752,803
|
| Price: | $116.90
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Five years (series A), three years (series B)
|
| Warrant strike price: | $1.87 (series A), $1.13 (series B)
|
| Agent: | Merriman Curhan Ford and Co.
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: OCLS
|
| Stock price: | $1.61 at close Feb. 6
|
| Market capitalization: | $21.8 million
|
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