Deal’s proceeds will be used to increase company’s direct sales force
By Devika Patel
Knoxville, Tenn., March 18 – Oculus Innovative Sciences, Inc. said it priced a $3.4 million public sale of units. The deal was announced Thursday.
The company will sell 3.4 million units of one common share and a quarter-share warrant at $1.00 per unit. Each whole warrant will be exercisable at $1.00 for three years. The strike price is identical to the March 17 closing share price.
Dawson James Securities, Inc. is the bookrunner.
Settlement is expected March 23.
Proceeds will be used to increase the company’s direct sales force, develop and launch new products and for general working capital.
Oculus is a specialty pharmaceutical company based in Petaluma, Calif., that develops and markets solutions for the treatment of dermatological conditions and tissue care.
| Issuer: | Oculus Innovative Sciences, Inc.
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| Issue: | Units of one common share and a quarter-share warrant
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| Amount: | $3.4 million
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| Units: | 3.4 million
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| Price: | $1.00
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| Warrants: | One quarter-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | $1.00
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| Bookrunner: | Dawson James Securities, Inc.
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| Announcement date: | March 17
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Stock symbol: | Nasdaq: OCLS
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| Stock price: | $1.00 at close March 17
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| Market capitalization: | $17.87 million
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