Precision Optics (OTCQB:PEYE) has stockholders selling 760,000 shares of its common stock, but the company is not selling any securities itself in the offering.
PEYE stock was trading at $1.50 per share before Precision Optics listed the offering. The company’s shares are currently listed at $1.48 per share in mid-afternoon trading today.
Because Precision Optics is not selling securities in the offering, the Garner, Mass.-based company will not receive any of the proceeds from this offering or from other disposition of common stock by the selling stockholders.
Precision Optics entered into a private placement of 760,000 shares at $1.25 per share in July, collecting $950,000 in gross proceeds. Those proceeds were used in the purchase of assets from Ross Optical, according to the company’s prospectus.
Precision Optics develops and manufactures optical and mechanical-optical components, sub-assemblies and systems including lenses, prisms, thin-film coatings, optical assemblies, sinuscopes, arthroscopes, laparoscopes, stereo-endoscopes, beamsplitters, endocouplers, camera adapters and fiber optic assemblies, according to its website.