Oculus Innovative Sciences Announces Pricing of $3.4 Million Underwritten Public Offering

Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) announced the pricing of an underwritten public offering of 3,400,000 units, consisting of 3,400,000 shares of common stock, and warrants to purchase an aggregate of 850,000 shares of common stock, at an offering price of $1.00 per share and related warrant. The warrants have an exercise price of $1.00 per share, and are exercisable for a period of three years.
According to the news:

The gross proceeds to Oculus Innovative Sciences from this offering are approximately $3.4 million before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on or about March 23, 2016, subject to customary closing conditions.
Oculus Innovative Sciences intends to use the net proceeds from the offering to increase the company’s direct sales force, develop and launch new products, and for general working capital.

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