Rochester, NY 8/21/2009 1:37:01 AM
LightPath Technologies Inc. LPTH, LightPath Technologies, Inc. Recently Release Additional Capital of $1.6 Million
LightPath Technologies Inc. LPTH
LightPath Technologies, Inc. declared that the gross proceeds of approximately $1.637 million through the sale of 1,298,827 shares of common stock to certain institutional and private investors at $1.26 per share. The company’s common stock up 649,423 shares, the investors received warrants for the future purchase.
The warrants are priced at $1.73 per share and exercisable for a period of five years beginning on February 19, 2010. If all of the warrants are ultimately exercised, LightPath will receive additional proceeds in the amount of $1.12 million. Garden State Securities, Inc. acted as exclusive placement agent for the offering.
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