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Laser Photonics Corp Prices 3M Share IPO at $5

Stock Markets Sep 30, 2022 06:39AM ET
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© Reuters. Laser Photonics Corp (LASE) Prices 3M Share IPO at $5
 
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Laser Photonics Corporation. (LASE) announced the pricing of its underwritten initial public offering of 3,000,000 shares of common stock at a public offering price of $5.00 per share for gross proceeds of $15,000,000, before underwriting discounts and commissions. In addition, the Company has granted the underwriters a 45-day option to purchase up to 450,000 additional shares of common stock at the offering price, less the underwriting discount.

The shares are expected to begin trading on The Nasdaq Capital Market on September 30, 2022, under the ticker symbol "LASE." The offering is expected to close on October 4, 2022, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of this offering primarily for general corporate purposes, including working capital, operating expenses and capital expenditures.

Alexander Capital, LP is acting as sole book-running manager for the offering. Lucosky Brookman LLP and Culhane Meadows PLLC served as co-counsel to Laser Photonics. Cozen O'Connor, P.C. served as counsel to the underwriters.

Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC seeks to disrupt the $46 billion, centuries old, sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. LPC's new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using LPC's "unique-to-industry" systems. For more information, visit www.laserphotonics.com.

Laser Photonics Corp Prices 3M Share IPO at $5
 

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