Oculus Innovative Sciences Announces Pricing of Upsized $6.3M Underwritten Public Offering

Oculus Innovative Sciences, Inc. (Nasdaq: Common Stock – OCLS, Warrants – OCLSW) today announced the pricing of an 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 21, 2015. The offering was upsized from 5,750,000 shares. The gross proceeds to Oculus Innovative Sciences from this offering are approximately $6.3 million before deducting the underwriting discount and other estimated offering expenses. The company has granted the underwriters a 45-day option to purchase an aggregate of up to 937,500 additional shares of common stock and/or warrants to purchase up to 703,125 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about January 26, 2015, subject to customary closing conditions. In connection with the offering, the warrants will be listed immediately on the NASDAQ Capital Market under the symbol "OCLSW." Maxim Group LLC is acting as sole book-running manager and Dawson James Securities, Inc. is acting as co-manager for the offering. 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. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 20, 2015. When available, 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 will also be 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