Premier Laser Secures Funds for Marketing

Premier Laser Systems Inc. said Tuesday that it has completed a private round of financing in which it raised $2 million by issuing corporate debt in the form of secured convertible debentures.

The Irvine medical and dental laser maker said in a press release that it used proceeds from the transaction to refinance certain loans and to provide additional working capital to help finance its sales and marketing efforts.

The debentures, which pay 6% in interest, are convertible into the company’s common shares at a rate to be determined by the price of the shares at the time of the conversion, subject to certain conditions.