BUZZ-LightPath Technologies dims on $100 mln direct stock offering

LightPath Technologies, Inc. Class A

LightPath Technologies, Inc. Class A

LPTH

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** Optics and imaging systems provider LightPath Technologies LPTH.O shares down 9.4% before the bell to $14.99 after $100 mln direct stock offering

** LPTH says it and existing holder North Run Strategic Opportunities Fund sold ~7.14 mln shares to certain institutional investors at $14

** Co and selling stockholder each sold ~3.57 mln shares

** Offering price represents 15.5% discount to stock's last sale on Mon

** LPTH intends to use net offering proceeds it receives for working capital, investments, acquisitions, and general purposes

** Craig-Hallum sole placement agent

** Orlando, Florida-based LPTH has ~62.8 mln shares outstanding

** Through Mon, stock up 53% YTD. It closed at $3.01 a year ago

** 1 analyst rates the stock "strong buy", the other 3 rate "buy"; median PT $15.95, per LSEG data


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