Oculus Innovative Sciences Announces Closing of $6.3M Underwritten Public Offering

Oculus Innovative Sciences, Inc. (Nasdaq: Common Stock – OCLS, Warrants – OCLSW) today announced the closing of its previously announced underwritten public offering of 6,250,000 shares of common stock, and warrants to purchase an aggregate of 4,687,500 shares of common stock, at an offering price of $1.00 per share and related warrant. The warrants have an exercise price of $1.30 per share, and are exercisable for a period of five years beginning January 26, 2015. The company also announced today that the underwriters partially exercised the over-allotment option to purchase an additional 703,125 warrants. The underwriters have a 45-day option to purchase up to an additional 937,500 shares of common stock to cover additional over-allotments, if any. The gross proceeds to Oculus Innovative Sciences from this offering, including the underwriters' partial exercise of the over-allotment option, were approximately $6.3 million, before deducting the underwriting discount, commissions and other offering expenses. In connection with the offering, the warrants are now listed on the NASDAQ Capital Market under the symbol "OCLSW." Maxim Group LLC acted as sole book-running manager and Dawson James Securities, Inc. acted as co-manager for the offering. Oculus Innovative Sciences intends to use the net proceeds of approximately $5.3 million from the offering to increase the company's direct sales force, develop and launch new products, and for general working capital. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 20, 2015. Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174 or via telephone at 212-895-3745. The final prospectus relating to the offering is also available on the SEC's website at http://www.sec.gov. 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.