Oculus Innovative Sciences completed the first technology IPO of 2007 without the help of venture capitalists. Hoji Alimi previously said that the wound care management company turned to a placement agent after VCs were unwilling to offer the company a higher valuation.
That discipline may have been smart. After lowering its price to $8 per share, Oculus raised $24 million last week at a valuation of $91.8 million.
The largest institutional shareholder is Brookstreet Securities, which arranged and participated in Oculus' sole $8 million round of financing. For its trouble and investment, Brookstreet ended up with 6.4% of the company's shares, now worth $6 million.
Venture capitalists are surely hoping their portfolio companies on deck for an IPO perform better.
For more on Oculus' IPO, see:
The Deal
Company press release
Tags: oculus, vc, venture+capital, ethanol.
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