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ISL FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING; D. BLECH & COMPANY TO SERVE AS UNDERWRITERS

 SAN DIEGO, Oct. 1 /PRNewswire/ -- Intelligent Surgical Lasers Inc. (NASDAQ: ISLS) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to a public offering by the company of 3,000,000 Units, each Unit consisting of one share of Common Stock, one Class A Redeemable Common Stock Purchase Warrant, and one Class B Redeemable Common Stock Purchase Warrant. The number of Units to be offered reflects the implementation of a currently contemplated .4-for-1 reverse split of the company's outstanding shares of common stock. The managing underwriter will be D. Blech & Company Inc., and it is currently anticipated that the public offering price will be $5.00 per Unit (after giving effect to the proposed reverse stock split). The company has also granted the underwriters options to purchase up to 450,000 additional units to cover over-allotments, if any. Net proceeds from the proposed offering will be, for the most part, new financing for the company. However, it is anticipated that less than 10 percent of the net proceeds will be applied to the retirement of certain bridge financing.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 As a part of the registration statement, the company intends to register certain Units and Class C Common Stock Purchase Warrants on behalf of certain selling security holders. A written prospectus relating to the company's proposed public offering may be obtained from D. Blech & Company Inc. at 599 Lexington Ave., 41st Floor, New York, NY 10022.
 Intelligent Surgical Lasers Inc. (ISL) is a development stage company which designs and manufactures innovative, technologically advanced laser systems for the treatment of a broad range of ophthalmic disorders. The company's laser systems are designed to both improve on conventional treatments and to permit applications which are not currently possible using conventional laser systems or traditional medical instruments.
 -0- 10/1/93
 /CONTACT: Heinz Gisel, Chairman & CEO, ISL Inc., 619-552-6700; or Linda Seaton, Keatinge/Seaton Communications, 619-625-2100/
 (ISLS)


CO: Intelligent Surgical Lasers Inc. ST: California IN: MTC SU: OFR

LS-MF -- SD001 -- 7665 10/01/93 09:16 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:436
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