Premier Laser Raises $12 Million From Initial Stock Offering

Premier Laser Systems Inc. completed an initial offering of 2.4 million shares of stock and warrants Wednesday, which raised about $12 million for the struggling start-up. The issue was underwritten by D.H. Blair Investment Banking Corp. in New York.

Each unit, which sold for $5, consists of a common share of the Irvine medical device maker and two options to buy a share at a set price within the next five years.

Irvine-based Premier Laser’s stock closed Wednesday at $5.86.