LightPath Technologies (LPTH) said Thursday that it has made an accretive acquisition of G5 Infrared, a manufacturer of infrared camera systems for a combination of cash and stock.

LightPath said it will pay G5 $27 million, which includes $20.3 million in cash and $6.8 million in common shares, which may increase based on performance.

LightPath also said it has signed definitive agreements to finance the cash portion of the deal through private placements of $25.5 million in 6.5% fixed-price convertible preferred equity and related warrants totaling $1.5 million, as well as senior secured promissory notes worth $5.2 million.