Precision Optics acquires Ross Optical Industries

|About: Precision Optics Corpo... (PEYE)|By:, SA News Editor

Precision Optics (OTCQB:PEYE +11.3%announced that it has completed the acquisition of certain assets of Ross Optical Industries by acquiring slightly over $1M of net working capital.

The total purchase price is up to $2M, comprised of $1.5M in cash at closing and additional payments up to $0.5M.

Precision Optics completed an equity capital raise of $0.95M at a per share price of $1.25 concurrent with the closing of the acquisition.

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