SurgiLight Closes $500,000 Private Placement

ORLANDO, Fla., Jan. 27 -- SurgiLight, Inc. a developer of laser systems for ophthalmic applications, said it had consummated a previously announced private placement agreement with a group of four investors worth $500,000. The agreement had originally stipulated $450,000.

Under the agreement terms, investors purchased for approximately $.29 each a unit consisting of one share of SurgiLight restricted common stock and a warrant with an exercise price of $.42 per share. The stock purchase price was at fair market value, based on the average closing price for the ten days prior to the offering.