Irvine Sensors Corp. said that the offering...

Irvine Sensors Corp. said that the offering of a 30-day accelerated option to holders of its public warrants has been approved and becomes effective today. The option allows holders to exercise their warrants at a price of $2.75 per share of common stock, instead of $3.70, and also to receive a new two-year warrant at the $3.70 price. Without the option, the warrants are scheduled to expire Dec. 31. Irvine Sensors’ stock has been selling for about $2.50 per share, according to John Stuart, chief financial officer of the Costa Mesa infrared sensor company. He said the action would provide incentive for warrant holders to continue their investment in Irvine Sensors, and also give shareholders some immediate benefit.