Precision Optics Announces Closing of $5.1 Million Offering of Common Stock to Fund Business Expansion

Core Viewpoint - Precision Optics Corporation has successfully closed a registered direct offering of common stock, raising approximately $5.1 million in gross proceeds to support its growth initiatives and repay debt [1][2][3]. Group 1: Offering Details - The offering consisted of 1,272,500 shares 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 [2]. - The company plans to use the net proceeds to repay certain indebtedness, expand its facilities to support expected growth, and for general working capital purposes [2]. Group 2: Company Background - Founded in 1982, Precision Optics is a vertically integrated optics company focused on advanced optical instruments for the healthcare and defense/aerospace industries [4]. - The company leverages proprietary micro-optics, 3D imaging, and digital imaging technologies to meet the demands of the surgical community and support the proliferation of surgical robotic systems [4]. - Precision Optics has a long history of supplying a variety of optical products to top-tier medical device companies, including complex endocouplers and specialized endoscopes [4].