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LaserSight shareholders asked to help cover firm's bet on patents.
Shareholders in LaserSight Inc. will be asked to permit the company to double the number of shares of common stock it is authorized to issue, from 20,000 to 40,000 shares, at a special stockholders meeting Dec. 10.
According to a preliminary proxy issued Nov. 5, LaserSight needs to make additional common stock available to meet terms of an agreement with investors who purchased $16 million in preferred stock in a private placement earlier this year. Proceeds from the private placement paid for the purchase of IBM patents for the technology used in vision-correcting excimer lasers.
The agreement allows preferred stockholders to convert their shares to common stock. …
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