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Porter Increases Stake in Lasik Vision
The battle for control of Lasik Vision continues, as John Porter increased his stake by $2.5 million
for 3,125,000 shares of the company s stock plus warrants for another 3,125,000 shares. Toronto-based ICON Laser Eye Center, which recently made an unsolicited offer to acquire all of Lasik Vision s outstanding shares.said the arrangement is oppressive and not in the best interests of Lasik Vision s shareholders.
Previously, Mr. Porter made an additional $7-million placement, consisting of a $3-million convertible note and $4 million for shares and warrants to purchase additional shares. After the placements Porter will hold 22 million (36 percent) of Lasik Vision s outstanding shares. Assuming conversion of the convertible note and exercise of his warrants, he would hold 63 percent of the company s stock.
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