By Devika Patel
Knoxville, Tenn., June 29 - Ophthalmic Imaging Systems raised $4 million from a private placement of stock on Wednesday, according to an 8-K filed Monday with the Securities and Exchange Commission. It will raise an additional $2 million at a later date.
The company is selling 13,214,317 common shares and warrants for 4,404,772 shares in two tranches to U.M. AccelMed, LP.
For the $4 million tranche, the company sold 9,633,228 shares and a warrant for 3,211,076 shares on Wednesday.
For the $2 million tranche, the company will sell 3,581,089 shares and a warrant for 1,193,696 shares.
The warrants are exercisable at $1.00 until June 24, 2012.
Ophthalmic Imaging, a majority-owned subsidiary of MediVision, is a Sacramento-based provider of ophthalmic digital imaging systems.
| Issuer: | Ophthalmic Imaging Systems
|
| Issue: | Stock
|
| Amount: | $5,999,876
|
| Shares: | 13,214,317
|
| Warrants: | For 4,404,772 shares
|
| Warrant expiration: | June 24, 2012
|
| Warrant strike price: | $1.00
|
| Settlement date: | June 24 (for $3,999,909)
|
| Stock symbol: | OTCBB: OISI
|
| Stock price: | $0.39 at close June 24
|
| Market capitalization: | $7.08 million
|
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