Laser Photonics closes $4 million private placement offering

ORLANDO - Laser Photonics Corporation (NASDAQ:LASE), a provider of industrial laser systems with a market capitalization of $63.33 million and impressive revenue growth of 89.34% in the last twelve months, announced Wednesday it has closed its previously announced private placement offering, raising approximately $4 million in gross proceeds. According to InvestingPro analysis, the company currently trades below its Fair Value.

The offering, initially announced on September 26, included the issuance of 1,098,902 shares of common stock at $3.64 per share, along with Series A and Series B warrants to purchase up to an aggregate of 1,098,902 shares each at $3.40 per share.

The Series A warrants will expire five years after the effective date of the registration statement for the underlying shares, while Series B warrants will expire after 18 months.

Wayne Tupuola, CEO of Laser Photonics, stated the capital would strengthen the company’s balance sheet and help accelerate integration and growth from its recent CMS and Beamer acquisitions, which he said "open up new high-value markets" for the company.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering, which was conducted as a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D.

The securities sold in the offering have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The company has agreed to file registration statements with the SEC covering the resale of the unregistered securities.

According to the press release statement, Laser Photonics provides laser technologies for cleaning, cutting, engraving and marking applications across various sectors including aviation, automotive, defense, energy, and maritime industries. The company generated revenue of $6.94 million in the last twelve months, demonstrating its growing presence in these high-value markets. For detailed insights and professional analysis, check out the comprehensive Pro Research Report available on InvestingPro, covering this and 1,400+ other US stocks.

In other recent news, Laser Photonics Corporation announced a $4 million private placement offering. The offering involves approximately 1.1 million shares of common stock priced at $3.64 per share, along with two series of warrants to purchase additional shares. Additionally, Laser Photonics entered a $2.1 million Note Purchase Agreement with investors, issuing unsecured promissory notes totaling over $2 million in principal. The company also secured a significant multi-system order from a top-five global semiconductor capital equipment company through its Beamer Laser Marking Systems subsidiary. This order marks an important entry into the semiconductor sector for Laser Photonics. In another development, the company reported a successful live drone neutralization test of its Laser Shield Anti-Drone System, in partnership with Fonon Technologies. This test represents a critical step in the system’s development and commercialization.

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