Laser Photonics closes $4 million private placement

Laser Photonics Corporation (NASDAQ: LASE) announced it closed a private placement that raised approximately $4 million in gross proceeds before fees and expenses.

The financing included 1,098,902 shares of common stock priced at $3.64 per share, along with Series A and Series B warrants to purchase up to 1,098,902 shares each at $3.40 per share. The warrants are exercisable immediately, with Series A warrants expiring five years after the resale registration statement becomes effective and Series B warrants expiring eighteen months thereafter.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The securities were offered to accredited investors under Section 4(a)(2) of the Securities Act of 1933 and Regulation D.

"This capital raise strengthens our balance sheet and provides a resource to accelerate integration and growth from our recent CMS and Beamer acquisitions," said Wayne Tupuola, CEO of Laser Photonics.

The company develops industrial laser systems for cleaning and material processing applications. Through acquisitions of Beamer Laser Systems and Control Micro Systems, Laser Photonics has expanded into pharmaceutical, semiconductor, and manufacturing markets.

The company will file registration statements with the SEC covering resale of the securities pursuant to a registration rights agreement. The information is based on a company press release.

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