Core Viewpoint - Precision Optics Corporation has announced a registered direct offering of 1,272,500 shares at a price of 5.1 million in gross proceeds, with net proceeds expected to be around $5.0 million after expenses [1][2]. Group 1: Offering Details - The offering is led by existing stockholders and is expected to close on or about February 21, 2025, pending customary closing conditions [2]. - The offering is conducted under an effective shelf registration statement on Form S-3, previously filed with the SEC [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay certain debts, expand facilities to support anticipated growth, and for general working capital purposes [1]. Group 3: Company Overview - Precision Optics Corporation, founded in 1982, specializes in advanced optical instruments for the medical and defense/aerospace sectors, leveraging proprietary technologies in micro-optics and imaging [5]. - The company provides comprehensive services from product concept to mass manufacturing, catering to the increasing demands for enhanced imaging systems in minimally invasive surgeries and 3D endoscopy [5]. - Precision Optics also focuses on high-quality standards and optimization in size, weight, and power for defense/aerospace applications [5].
Precision Optics Announces Pricing of $5.1 Million Offering of Common Stock to Fund Business Expansion