SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 16, 1998 (June 16, 1998)
LASERSIGHT INCORPORATED
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Exact name of registrant as specified in its charter
Delaware
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State or other jurisdiction of incorporation
0-19671 65-0273162
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Commission File Number I.R.S. Employer
Identification No.
12249 Science Drive, Suite 160, Orlando, Florida 32826
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Address of Principal Executive Offices
Registrant's telephone number, including area code: (407) 382-2700
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Item 5. Other Events.
The press release issued by LaserSight Incorporated dated June 16, 1998 is
incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit 99. Press Release dated June 16, 1998
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LaserSight Incorporated
Date: June 16, 1998 By: /s/ Michael R. Farris
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Michael R. Farris
Chief Executive Officer
EXHIBIT 99
NASDAQ SYMBOL: LASE
LASERSIGHT INCORPORATED RECEIVES $8 MILLION INVESTMENT
FROM DAWSON SAMBERG CAPITAL MANAGEMENT FUNDS
ORLANDO, Fla. (June 16, 1998) - LaserSight Incorporated (Nasdaq: LASE) has
completed an $8 million equity financing with Dawson Samberg Capital
Management's Pequot Private Equity Fund, L.P. and certain affiliates. The
financing is a private placement of 2 million shares of Series D preferred stock
purchased at $4 per share and convertible on a one-for-one basis into an equal
number of shares of common stock, and is subject to certain anti-dilution
adjustments.
LaserSight's President and Chief Executive Officer Michael Farris says, "Over
the past two weeks we have raised $16 million and received approximately $4
million in cash from selling the Vision Twenty-One (Nasdaq: EYES) stock received
last December in connection with Vision Twenty-One's purchase of two of our
health care subsidiaries. LaserSight's balance sheet has been strengthened. The
overhang of the Series B preferred stock, with its variable conversion price,
has been eliminated for $6.3 million and $2 million of secured debt has been
repaid to Foothill Capital Corporation. With the balance of $11.7 million, we
are better positioned to bring our products to the U.S. market and continue to
expand our international presence."
The holders of the Series D preferred stock are entitled to elect one member to
the LaserSight board of directors. Juliet Tammenoms Bakker of Dawson Samberg
stated, "We are enthusiastic about the opportunity to invest in and work closely
with LaserSight. This is an exciting time in the refractive surgery market as
procedure volumes are ramping up rapidly. We feel that LaserSight's LSX scanning
laser and Automated Disposable Keratome represent a strong technology platform
and position the company well within the refractive surgery market."
Farris adds, "We are very pleased to have Dawson Samberg's private equity fund
as investors in LaserSight and to welcome them to the LaserSight board of
directors."
Pequot Private Equity Fund, L.P., the private equity investment vehicle of
Dawson Samberg Capital Management, was established to provide growth capital for
public companies with market valuations of less than $200 million and
late-stage, private growth companies in information technology,
telecommunications and health care technology and services. Dawson Samberg
Capital Management manages more than $3 billion in assets across its Pequot
family of hedge funds and investment advisory accounts.
LaserSight Incorporated provides technology solutions for laser refractive
surgery and other innovative medical applications, especially in the vision
correction industry. The company sells its products in more than 30 countries.
LaserSight's refractive scanning laser system has an investigational device
exemption status for clinical trials in the United States and is currently not
available in that market. This March, the company submitted its pre-market
approval application for the refractive scanning laser system to the U.S. Food
and Drug Administration, and it was accepted for filing in May.
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