Exhibit 5.1
PILLSBURY WINTHROP SHAW PITTMAN LLP
2475 Hanover Street
Palo Alto, California 94304
March 28, 2008
Ladies and Gentlemen:
We have acted as counsel for Oculus Innovative Sciences, Inc., a Delaware corporation (the
Company), in connection with the registration under the Securities Act of 1933 (the Act) of
2,652,673 shares (the Shares) of common stock, par value $0.0001 per share, of the Company
(Common Stock), Warrants to purchase 1,326,337 shares of Common Stock (the Warrants), and the
shares of Common Stock initially issuable upon exercise of the Warrants (the Warrant Shares and,
together with the Shares and the Warrants, the Securities), in each case pursuant to the
Registration Statement on Form S-3 (File No. 333-149223) filed by the Company with the Securities
and Exchange Commission (the Commission) on February 13, 2008 (the Registration Statement) and
related prospectus, dated February 26, 2008 (the Prospectus), and the prospectus supplement,
dated March 27, 2008, relating to the Securities, filed or to be filed by the Company with the
Commission pursuant to Rule 424(b) under the Act (the Prospectus Supplement).
We have reviewed and are familiar with such corporate proceedings and other matters as we have
deemed necessary for this opinion. Based upon the foregoing, we are of the opinion that (i) the
Shares have been duly authorized and, when issued and sold by the Company in the manner described
in the Registration Statement, the Prospectus, and the Prospectus Supplement and in accordance with
the resolutions adopted by the Board of Directors of the Company, will be validly issued, fully
paid and nonassessable, (ii) the Warrants, when issued and sold by the Company in the manner
described in the Registration Statement, the Prospectus, and the Prospectus Supplement and in
accordance with the resolutions adopted by the Board of Directors of the Company, will be valid and
legally binding obligations of the Company, enforceable against the Company in accordance with
their terms, except as may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer and similar laws affecting or relating to the rights of creditors
generally, by general principles of equity (regardless of whether considered in a proceeding in
equity or at law), and by requirements of reasonableness, good faith and fair dealing, and (iii)
the Warrant Shares have been duly authorized and, if duly issued and sold against payment therefor
on the date hereof in accordance with the terms of the Warrants, would be validly issued, fully
paid and nonassessable. This opinion is limited to matters governed by the Delaware General
Corporation Law and the laws of the State of New York.
We hereby consent to the filing of this opinion as an exhibit to a Form 8-K incorporated by
reference in the Registration Statement and to the use of our name under the captions Legal
Matters in the Prospectus Supplement and the Prospectus. In giving this consent, we do not
thereby admit that we are within the category of persons whose consent is required under Section 7
of the Act or the rules and regulations of the Commission promulgated thereunder.
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Very truly yours,
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| /s/ Pillsbury Winthrop Shaw Pittman LLP
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