Oculus to raise $6 million in stock sale

Oculus Innovative Sciences announced plans Wednesday to raise up to $6 million in a stock sale this week.

The Petaluma biotech company is selling up to 2.5 million shares of stock priced at $2.45 a share and warrants to purchase up to 1.2 million shares at an exercise price of $3.39 and five-year maturity.

On Tuesday, the company registered 2.9 million shares of stock that were sold to investors in February. Those shares and warrants can now be sold on the open market.

Oculus stock closed at $2.55 a share, down 2 cents on the Nasdaq exchange.

The company is developing infection-fighting products using its Microcyn technology, a super-oxidized, water-based solution.

? Press Democrat staff