Oculus to raise $2 million in stock offering

PETALUMA -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) today said it has received commitments to purchase aboout $2 million company stock in a registered direct offering set to close next week.

The developer of health care products said it received the commitments from institutional and accredited investors for a registered direct stock offering, which is set to close on Dec. 28. The net proceeds would go for "general corporate purposes including several important growth opportunities."

In the offering, Oculus intends to issue about 1.8 million shares of common stock at $1.15 a share with no warrant coverage.

Rodman & Renshaw, part of Rodman & Renshaw Capital Group, was the exclusive placement agent, and Stonegate Securities advised Oculus.

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