Oculus (OCLS) Falls on Dilutive Common Offering
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Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) is getting slammed in late trading following plans to offer common shares. Shares are down about 14.8 percent late Wednesday.
Oculus said it intends to use the net proceeds from this offering for the repayment of debt and for general corporate purposes. In connection with the repayment of debt, the company intends to retire a portion of the common stock previously issued to its lenders.
Oculus said it intends to use the net proceeds from this offering for the repayment of debt and for general corporate purposes. In connection with the repayment of debt, the company intends to retire a portion of the common stock previously issued to its lenders.
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