Precision Optics prices $5.1M common stock offering at $4.00 per share

Precision Optics (POCI) announced that it has entered into securities purchase agreements with institutional and accredited investors for the purchase and sale of 1,272,500 shares of the Company’s common stock, par value $0.01 per share, pursuant to a registered direct offering at a purchase price of $4.00 per share, resulting in gross proceeds of approximately $5.1 million, and expected net proceeds of approximately $5.0 million after deducting offering expenses. The Company intends to use the net proceeds from the offering to repay certain indebtedness, expand its facilities to support expected growth and related general working capital purposes.