Precision Optics Corp. Inc.
of Gardner, Mass., will sell stock shares to investors to raise approximately $2.5 million. 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. 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 recent microendoscopes order as well as for other orders received for new products.