LightPath Technologies (LPTH) shares were down 6.3% in Friday's premarket activity after the company reported overnight the start of an offering of Class A common stock.

The company expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares at the public offering price, it said late Thursday.

The company is offering all the shares in the proposed share sale, the size of which remains undisclosed.

LightPath intends to use the net proceeds for working capital, investments, acquisitions, and general corporate purposes.