New Release on New Symbol from LightPath (LPTH):
Wednesday July 12, 8:02 am Eastern Time
Company Press Release
SOURCE: LightPath Technologies, Inc.
LightPath Technologies, Inc. Will Begin Trading on the Nasdaq National Market Today
ALBUQUERQUE, N.M., July 12 /PRNewswire/ -- LightPath Technologies, Inc. (Nasdaq: LPTH - news; formerly LPTHA), manufacturer of families of high-performance fiber-optic collimator and isolator products, today announced that it has been advised by Nasdaq that its Class A common stock, formerly trading on the Nasdaq SmallCap Market as LPTHA, will begin trading on the National Market System effective today, July 12, 2000. The Company's Nasdaq trading symbol will be changed to LPTH.
``The Company is pleased to have met the stringent listing criteria for the National Market System. We believe the listing will enhance our visibility to institutional investors and benefit all shareholders,'' said Don Lawson, President and CEO. ``The listing of our securities is another step in the Company's progression and is indicative of the current momentum of our growth due in part to our increasing sales of fiber optic component products, our acquisition of Horizon Photonics Inc. and cash of approximately $59 million at June 30, 2000, which will fuel the expansion of our telecom product lines.''
LightPath manufactures its proprietary collimator assemblies and GRADIUM® glass products at its headquarters in Albuquerque. The Company's subsidiary, Horizon Photonics, manufactures isolator products utilizing its proprietary automation technology in Walnut, California. LightPath has recently announced the opening of a second office in Warren, NJ for the purpose of development of various optical switch products. The Company has 22 U.S. patents, plus 4 more pending, associated with its optical technologies. In addition, various foreign countries have issued a total of 8 patents with 9 patents pending.
Contact: Don Lawson, President & CEO of LightPath Technologies, Inc., 505-342-1100, dlawson@light.net
This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission.
SOURCE: LightPath Technologies, Inc. |
