Funds used for general corporate purposes; greenshoe fully exercised
By Devika Patel
Knoxville, Tenn., March 7 - Oculus Innovative Sciences, Inc. said it priced a $3 million public sale of stock with a $450,000 greenshoe, which has been exercised in full. The deal was announced Wednesday.
The company will sell 8,625,000 common shares at $0.40 per share. The price per share is a 25.93% discount to the March 6 closing share price of $0.54. Of the shares, 1,125,000 are part of the fully exercised greenshoe.
Aegis Capital Corp. is the bookrunner.
Settlement is expected March 12.
Proceeds will be used for debt repayment and general corporate purposes.
Oculus is a medical instruments company based in Petaluma, Calif., that makes tissue care products.
| Issuer: | Oculus Innovative Sciences, Inc.
|
| Issue: | Common stock
|
| Amount: | $3.45 million (including $450,000 greenshoe)
|
| Shares: | 8,625,000
|
| Price: | $0.40
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group LLC
|
| Co-manager: | Dawson James Securities, Inc.
|
| Announcement date: | March 6
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Stock symbol: | Nasdaq: OCLS
|
| Stock price: | $0.54 at close March 6
|
| Market capitalization: | $16.06 million
|
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