Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announced on June 2, 2026, that debentureholders have converted $1.4 million of principal into common shares at $0.32 per share, resulting in the issuance of 4,375,000 common shares. This conversion represents 35% of the company's previously outstanding debenture principal of $4 million, significantly strengthening its balance sheet as it approaches key milestones in its patient study program.
The conversion highlights ongoing investor confidence in Ocumetics' long-term vision, according to President and CEO Dean Burns. “We are actively managing our investments and stakeholder relationships as we continue to advance our patient study and focus on achieving the next major milestones for the Company,” Burns stated in the announcement. The debt-to-equity conversion reduces ongoing interest costs and aligns investor interests with the company's clinical development objectives.
Ocumetics is developing a dynamic intraocular lens designed to fit within the eye's natural lens compartment, potentially eliminating the need for corrective lenses by using the eye's natural muscle activity to shift focus from distance to near. The technology is currently in the first-in-human early feasibility study phase. The company is also preparing for an Investigational Device Exemption submission to the U.S. Food and Drug Administration, a critical regulatory step toward commercialization.
The improved financial flexibility from this debt conversion is expected to support Ocumetics as it advances toward these regulatory milestones. The company's technology aims to transform the field of ophthalmology by providing clear vision at all distances without glasses or contact lenses.
For further information, readers can refer to the original release on NewMediaWire.
