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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Irvine Sensors Plans Securities Offering

April 13, 2001|Dow Jones

Irvine Sensors Corp. plans to sell up to $100 million of common stock, convertible preferred stock, debt and warrants, according to a shelf-registration statement filed Thursday with the Securities and Exchange Commission.

Details of the securities will be provided in a prospectus. A shelf filing lets a company register securities in advance and sell them from time to time as needed.

Irvine Sensors, a Costa Mesa developer of high-density electronics and sensors, intends to use net proceeds from the offering for general purposes, including repayment of debt, capital expenditures, acquisitions, investments and repurchasing capital stock.

Its stock closed at $1.30 Thursday, off 3 cents a share, in Nasdaq trading.

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