PETALUMA, Calif., March 18, 2016 (GLOBE NEWSWIRE) — Oculus Innovative Sciences, Inc. (NASDAQ: Common Stock – OCLS, Warrants – OCLSW) today announced the pricing of an underwritten public offering of 3,400,000 units, consisting of 3,400,000 shares of common stock, and warrants to purchase an aggregate of 850,000 shares of common stock, at an offering price of $1.00 per share and related warrant. The warrants have an exercise price of $1.00 per share, and are exercisable for a period of three years. 

The gross proceeds to Oculus Innovative Sciences from this offering are approximately $3.4 million before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on or about March 23, 2016, subject to customary closing conditions.

Dawson James Securities is acting as sole book-running manager.

Oculus Innovative Sciences intends to use the net proceeds from the offering to increase the company’s direct sales force, develop and launch new products, and for general working capital.

The securities described above are being offered pursuant to a shelf registration statement on Form S-3 which was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on July 21, 2014. A preliminary prospectus supplement relating to the offering was filed with the SEC on March 17, 2016. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, [email protected] or toll free at 866.928.0928 FREE.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.