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Laser Photonics Raises $9.3 Million in Private Offering

Photonics.com
Aug 1999
CARLSBAD, Calif., Aug. 20 -- Laser Photonics Inc. has completed a private sale of restricted common stock. Company shares were offered at $4.50 per share to institutional and accredited investors through a placement agent, Pennsylvania Merchant Group. Laser Photonics plans to use the offering's net proceeds to fund marketing activities and additional clinical trials associated with the company's laser treatment for psoriasis. Proceeds will also go toward manufacturing, working capital, and general corporate purposes. Ray Hartman, Laser Photonics' president and CEO, commented, This financing will enable us to accelerate commercialization of our proprietary laser product for the treatment of psoriasis, a serious disease that has a major impact on patients' lives.

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