PETALUMA, Calif., Dec. 19, 2013 (GLOBE NEWSWIRE) -- In a transaction on October 30, 2012, Oculus Innovative Sciences (Nasdaq:OCLS) agreed to issue $3.5 million dollars of restricted common stock to its primary lender, Venture Lending and Leasing (VLL), which agreed to reduce the company’s debt liability with the sale of these common shares. As of December 16, 2013, VLL sold all of its shares of the company’s common stock acquired in the October 30, 2012, transaction at an average price of about $5.35 per share. The net proceeds of the shares will be applied to the put warrant liabilities of those certain warrants held by VLL, and will also prepay the remaining balance of principal and interest owed by the company under those certain loan agreements with VLL. The net result of this transaction is intended to increase the company’s stockholders’ equity by $1 million. This also reduced Oculus’ debt to less than $60,000.
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