Precision Optics raises $5.1M in registered direct offering at $4.00/share; lender waives covenant default

PRECISION OPTICS CORPORATION, INC.

Sold 1,272,500 shares at $4.00 each; gross proceeds ~$5.1M, expected net ~$5.0M.
Proceeds to repay ~$1.15M line of credit, expand facilities, and for working capital.
Main Street Bank waived anticipated covenant default for Jun 30, 2025 for $30,000 fee and equity raise ≥$4.5M by Feb 24.
Line of credit to be paid to $0 from raise; future advances contingent on minimum 1.20x DSCR.
Offering led by existing shareholders; closing expected Feb 21, 2025.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.