PETALUMA, Calif., April 23, 2012 (GLOBE NEWSWIRE) -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) announced today that it has entered into a definitive agreement with a single life science-focused institutional investor for the purchase of a combination of 1) 1,000 shares of its new Series A Convertible Preferred Stock at $1,000 per share, which are convertible into 1.1 million shares of its common stock and 2) 2.4 million of its common shares at $0.90 per share and 3) a 2.5-year warrant to purchase up to approximately 3.5 million of common stock at an exercise price of $1.18 per share, which is not exercisable for six months. The Series A Convertible Preferred has no dividend and is perpetual. Oculus Innovative Sciences, Inc will receive approximately $3.1 million in gross proceeds from...MedWorm Sponsor Message: Please have a look at this new site driven by MedWorm: The Breast Cancer Daily read more..
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