(Applies to: LPTHA)
LIGHTPATH TECHNOLOGIES, INC. CALLS FOR REDEMPTION OF ITS RELEASE:
(Applies to: LPTHA)
LIGHTPATH TECHNOLOGIES, INC. CALLS FOR REDEMPTION OF ITS CLASS A
WARRANTS
ALBUQUERQUE, N.M., Jan 7, 2000 /PRNewswire via COMTEX/ -- LightPath
Technologies, Inc. (Nasdaq: LPTHA) announced today that the Company
intends to exercise its right to call for redemption of its outstanding
class A warrants. The date of the class A warrant call will be Tuesday,
January 11, 2000. Letters of instruction will be mailed to all holders
of class A warrants on that day. Each class A warrant is exercisable at
$6.50 per warrant prior to 5:00 p.m. (Eastern Standard Time), on
February 9, 2000. If a class A warrant is exercised, the holder will
receive one share of LightPath Technologies, Inc. common stock (LPTHA)
and one share of LightPath Technologies, Inc. class B warrant (LPTHZ).
After 5:00 p.m. on February 9, 2000, the class A warrants will no
longer be exercisable, and holders will have the right to receive only
the redemption price of $.05 per warrant.
Donald E. Lawson, President and CEO of LightPath Technologies, Inc.,
commented, "the potential proceeds of $16.4 million from this class A
warrant conversion will provide the Company with the financing
flexibility to expand production capability for existing products and
to accelerate our investment in various optical switch programs."
The Company's Underwriter from its Initial Public Offering, D. H. Blair
Investment Banking Corp., a New York corporation, is managing the class
A warrant conversion.
Questions and requests for assistance in connection with the warrant
redemption should be directed to the following Company representative:
Donna Bogue, VP Finance
LightPath Technologies, Inc.,
(505) 342-1100 -- Telephone
(505) 342-1111 -- Fax
Email -- dbogue@light.net
LightPath manufactures optical products for the telecommunications
component industry at its headquarters in Albuquerque. The Company has
18 U.S. patents, plus 8 more pending, associated with its optical
technologies. In addition, various foreign countries had issued a total
of 7 patents with 10 patents pending. LightPath common stock trades on
the Nasdaq SmallCap Market under the stock symbol LPTHA.
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.
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Donald E. Lawson, President & CEO of LightPath Technologies,
Inc., 505-342-1100
WEB PAGE: light.net
GEOGRAPHY: New Mexico
INDUSTRY CODE: CPR
TLS
SUBJECT CODE: OTCCLASS A WARRANTS
ALBUQUERQUE, N.M., Jan 7, 2000 /PRNewswire via COMTEX/ -- LightPath
Technologies, Inc. (Nasdaq: LPTHA) announced today that the Company
intends to exercise its right to call for redemption of its outstanding
class A warrants. The date of the class A warrant call will be Tuesday,
January 11, 2000. Letters of instruction will be mailed to all holders
of class A warrants on that day. Each class A warrant is exercisable at
$6.50 per warrant prior to 5:00 p.m. (Eastern Standard Time), on
February 9, 2000. If a class A warrant is exercised, the holder will
receive one share of LightPath Technologies, Inc. common stock (LPTHA)
and one share of LightPath Technologies, Inc. class B warrant (LPTHZ).
After 5:00 p.m. on February 9, 2000, the class A warrants will no
longer be exercisable, and holders will have the right to receive only
the redemption price of $.05 per warrant.
Donald E. Lawson, President and CEO of LightPath Technologies, Inc.,
commented, "the potential proceeds of $16.4 million from this class A
warrant conversion will provide the Company with the financing
flexibility to expand production capability for existing products and
to accelerate our investment in various optical switch programs."
The Company's Underwriter from its Initial Public Offering, D. H. Blair
Investment Banking Corp., a New York corporation, is managing the class
A warrant conversion.
Questions and requests for assistance in connection with the warrant
redemption should be directed to the following Company representative:
Donna Bogue, VP Finance
LightPath Technologies, Inc.,
(505) 342-1100 -- Telephone
(505) 342-1111 -- Fax
Email -- dbogue@light.net
LightPath manufactures optical products for the telecommunications
component industry at its headquarters in Albuquerque. The Company has
18 U.S. patents, plus 8 more pending, associated with its optical
technologies. In addition, various foreign countries had issued a total
of 7 patents with 10 patents pending. LightPath common stock trades on
the Nasdaq SmallCap Market under the stock symbol LPTHA.
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.
(C) 2000 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Donald E. Lawson, President & CEO of LightPath Technologies,
Inc., 505-342-1100
WEB PAGE: light.net
GEOGRAPHY: New Mexico
INDUSTRY CODE: CPR
TLS
SUBJECT CODE: OTC |
