Eye Technology Inc., a St. Paul, Minn.,...

Eye Technology Inc., a St. Paul, Minn., manufacturer of interocular lenses for cataract patients, has signed an agreement to acquire Americal IOL, a Huntington Beach ophthalmic company that also manufactures interocular lenses. An Eye Technology official said the agreement calls for the company to issue Americal shareholders up to 4 million shares of Eye Technology’s common stock. The shares most recently traded at about 63 cents each. Eye Technology also will issue 500,000 warrants enabling the holders to acquire additional stock for $2 a share. The warrants, which expire in February, are currently trading at about 13 cents each, said McCoy. In addition to Americal’s Huntington Beach facility, Eye Technology will acquire Americal’s international manufacturing facilities in Mexico and France. The transaction has been approved by the board of directors of the two companies but has not yet been approved by shareholders. The Eye Technology spokeswoman said that the transaction should be complete by early September and that the agreement enables Eye Technology to sell Americal products on commission until its completion.