By Sheri Kasprzak
Atlanta, Dec. 29 - Ophthalmic Imaging Systems Inc. said it has secured a $9 million standby equity distribution agreement from Dutchess Private Equities Fund II LP.
Ophthalmic may draw upon the agreement over a 30-month period by selling shares to Dutchess.
Based in Sacramento, Calif., Ophthalmic produces digital imaging technology for the ophthalmology field. It plans to use the proceeds from the equity line to accelerate the roll out of two of its new products and to support business expansion.
| Issuer: | Ophthalmic Imaging Systems Inc.
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| Issue: | Standby equity distribution agreement
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| Amount: | $9 million
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| Tenor: | 30 months
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| Warrants: | No
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| Investor: | Dutchess Private Equities Fund II LP
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| Pricing date: | Dec. 29
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| Stock price: | $1.05 at close Dec. 28
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