Ophthalmic Imaging Systems

Ophthalmic Imaging Systems Issues $2.75 Million in Convertible Notes

Published in Healthcare Mergers, Acquisitions and Ventures Week, November 17th, 2007

Ophthalmic Imaging Systems (OIS) (OTCBB:OISI), a leading digital imaging company, announced it issued $2.75 million of 6.5% convertible notes due 2010 in a transaction led by The Tail Wind Fund Ltd. OIS expects to use the net proceeds from the offering of the notes to fund potential future acquisitions.

Under the terms of the notes, the investors have the right by 2010 to convert the notes into OIS common stock at a fixed conversion price equal to a 5% premium to the Volume Weighted Average Price (VWAP) for the trailing 12 days of trading as of October 29, 2007. In addition, the Company issued 616,671 five year warrants with an exercise price equal to a 20% premium to...

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Source: Healthcare Mergers, Acquisitions and Ventures Week (2007-11-17)

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