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COPYRIGHT 2002 PR Newswire Association LLC
- $2.45 Million Received on Exercise; Proceeds Used to Further Reduce Debt -
OptiCare Health Systems, Inc. today announced that shareholders, including OptiCare's majority shareholder, Palisade Concentrated Equity Partnership, L.P., exercised warrants which generated cash proceeds for the Company of $2,450,000. The proceeds have been used in part to pay down OptiCare's senior bank debt. That debt, which was $6.7 million at September 30, 2002, is now $3.9 million.
Commenting on the additional investment...
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