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Premier Laser Systems Gets Investor Backing

June 03, 1997|Patrice Apodaca

Premier Laser Systems Inc., riding high on demand for its dental lasers, said it has received more than $20 million from investors who have voluntarily exercised warrants to buy the company's stock. The warrants, which allow stock to be purchased later at a specified price, were issued when the company had public offerings in 1994 and 1996. Warrant holders started to buy stock after the announcement last month that Irvine-based Premier received federal approval to sell a dental laser used to remove tooth decay. The company's stock closed at $12.4375, up 68.75 cents in Nasdaq trading, well above the $6.50 and $8 a share exercise prices.

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