Laser Photonics (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, has closed on a securities purchase agreement with institutional investors. The private placement totaled $3 million in gross cash proceeds, before deductions and expenses. According to the announcement, Laser Photonics anticipates using the funds from the agreement for working capital and general corporate purposes. Laser Photonics also issued an aggregate of 1,500,000 units in connection with the private placement. Aegis Capital Corp. acted as the exclusive placement agent for the private placement.
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About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, depainting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge, laser-blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in 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 Laser Photonics’ “unique-to-industry” systems. To learn more about the company, visit www.LaserPhotonics.com
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