LightPath Technologies Announces $100M Stock Offering

By Chris Stiles • Thursday, June 04 15:03 • Permanent Link

Lightpath Technologies said June 2 it entered into a securities purchase agreement for a 7,142,800-share registered direct offering priced at $14.00 per share, a transaction that totals $100 million in gross proceeds.

The deal is split evenly between new and existing shares: 3,571,400 shares will be sold by the company in the primary offering, producing $50 million in gross proceeds for Lightpath, and 3,571,400 shares will be sold by North Run Strategic Opportunities Fund I, LP in the secondary offering. Lightpath said it will receive no proceeds from the secondary portion.

The company said it plans to use the primary-offering proceeds for working capital, investments, acquisitions and general corporate purposes.

At the offering price, the stock sale is priced at a 0% discount to the stated price itself, and the transaction will add 7,142,800 shares to the market once it closes, expected around June 3, 2026.

Craig-Hallum is serving as sole placement agent. Following these announcements, the company's shares moved 1.82%, and are now trading at a price of $15.905. If you want to know more, read the company's complete 8-K report here.

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