LightPath Technologies announced the closing of a registered offering of 7,142,800 shares of its Class A Common Stock at $14.00 per share. The transaction included a primary offering by the company and a secondary offering by a major stockholder, generating approximately $50.0 million in gross proceeds for the company.
Key Details
- Offering Structure: The offering consisted of 3,571,400 primary shares sold by LightPath and 3,571,400 secondary shares sold by North Run Strategic Opportunities Fund I, LP. The company will not receive any proceeds from the secondary sale.
- Financials & Use of Proceeds: The primary offering generated approximately $50.0 million in gross proceeds ($47.0 million net) for LightPath. The company intends to use the net proceeds for working capital, investments, acquisitions, and general corporate purposes.
- Timeline & Terms: The securities purchase agreement was signed on June 1, 2026, and the offering closed on June 3, 2026. Company directors, executive officers, and the selling stockholder have agreed to a 60-day lock-up period.