LightPath Technologies Prices Underwritten Public Offering of Class A Common Stock

LightPath Technologies (LPTH) retreated in premarket trading on Friday after the maker of proprietary optical and infrared components, priced an underwritten public offering of 7 million shares of its class A common stock at a price of $1.21 per share, 0.8% lower than the closing price on Thursday. Shares fell as much as 2.4%.

The company also granted to the underwriters a 45-day option to acquire an additional 1 million shares to cover over-allotments in connection with the offering.

After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of $8.15 million, assuming no exercise of the remaining over-allotment option. The offering is expected to close on Dec. 21.

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