GARDNER, Mass., Sept. 27, 2012 — Precision Optics Corp. Inc. will sell stock shares to investors to raise approximately $2.5 million, the company said recently.
The optical instrument manufacturer will collaborate with institutional and accredited investors to sell and purchase an aggregate of approximately 2.8 million shares of common stock, and five-year warrants to purchase up to approximately 1.9 million shares of common stock.
The unit price for the private placement is 90 cents; the warrants have an exercise price of $1.25 per share, subject to adjustment and a call provision.
Net proceeds will fund startup costs for the company’s previously announced microendoscopes order (See: Precision Optics Nabs $1M Endoscope Order
), as well as other recently received orders for new products.
For more information, visit: www.poci.com