Deal sells 1,717,152 common shares at $0.60 to finance working capital
By Devika Patel
Knoxville, Tenn., July 7 – Precision Optics Corp., Inc. settled a $1.03 million private placement of stock from July 1 through July 7, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,717,152 common shares at $0.60 per share, which is a 16.67% discount to the closing price of the stock on June 30 of $0.72.
Proceeds will be used for general working capital.
Based in Gardner, Mass., Precision Optics makes medical devices, optical thin film coatings and micro-optic products.
| Issuer: | Precision Optics Corp., Inc.
|
| Issue: | Common stock
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| Amount: | $1,030,291
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| Shares: | 1,717,152
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| Price: | $0.60
|
| Warrants: | No
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| Settlement date: | July 1 through July 7
|
| Stock symbol: | OTCBB: PEYE
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| Stock price: | $0.72 at close June 30
|
| Market capitalization: | $3.21 million
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