Lightpath Technologies Shares Sink on $100M Direct, Secondary Offering

Dow Jones
06/02

By Connor Hart

 

Shares of Lightpath Technologies fell after the company disclosed a $100 million registered direct and secondary offering.

The stock declined 11%, to $14.78, in premarket trading Tuesday. Through Monday's close, shares are up more than 50% so far this year.

The optics and imaging company said it and North Run Strategic Opportunities Fund I entered into a security purchase agreement with institutional investors for the purchase and sale of 7.14 million shares of Lightpath's Class A common stock.

The shares will be sold for $14 apiece, with half being sold by Lightpath and half being sold by North Run.

Lightpath expects to receive gross proceeds of $50 million and said it will use net proceeds for working capital, investments, acquisitions and general corporate purposes.

The offering is expected to close on or about Wednesday, with Craig-Hallum acting as sole placement agent.

 

Write to Connor Hart at connor.hart@wsj.com

 

(END) Dow Jones Newswires

June 02, 2026 08:34 ET (12:34 GMT)

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