Shares of LightPath Technologies (NASDAQ: LPTH) are higher this morning after the company priced its underwritten public offering of seven million shares of its Class A common stock at a price of $1.21 per share. It also granted to the underwriters a 45-day option to acquire an additional one million shares to cover over-allotments in connection with the offering, of which the opportunity to acquire 300,000 shares has been exercised. The company expects to use the anticipated $8.15 million proceeds of the offering toward its acquisition of ISP Optics Corporation. The offering is expected to close December 21, 2016.
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About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support. For more information, visit www.lightpath.com
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