LightPath Technologies (LPTH) said Monday it is selling 1.6 million class A common shares at $5 per share through a private placement.
Each of Ondas Holdings (ONDS) and Unusual Machines (UMAC) will buy $4 million of shares, LightPath said.
Proceeds from the offering, which is expected to close on or about Wednesday, will be used to advance commercialization initiatives and for general corporate purposes, the company said.
Shares of LightPath were up over 7% in recent premarket activity Monday.
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