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Technology Stocks : Lightpath Technologies: LPTH New WDM player -- Ignore unavailable to you. Want to Upgrade?

To: Joe Lyddon who wrote (539)	1/23/2000 9:59:00 PM
From: Peter Sherman	Read Replies (1) \| Respond to of 1219

what you are asking is "what is the relationship between lightpath and lightchip?"

To: Joe Lyddon who wrote (539)	1/23/2000 11:19:00 PM
From: jkc	Respond to of 1219

A lot. Lightchip is a Lightpath spinoff: Thursday December 9, 11:02 am Eastern Time Company Press Release SOURCE: LightPath Technologies, Inc. LightPath Technologies, Inc. Participates With Others In LightChip, Inc.'s Second Equity Offering ALBUQUERQUE, N.M., Dec. 9 /PRNewswire/ -- LightPath Technologies, Inc. (Nasdaq: LPTHA - news) announced that it has invested $1.0 million as part of the $16 million second equity round announced by LightChip, Inc. earlier today. This equity round was priced at a multiple of the initial round in 1998 whereby LightPath invested $1.2 million of a $7.2 million funding. In addition to LightPath, LightChip, Inc., a Salem, New Hampshire optical networking company, sold shares to Morgenthaler Venture Partners, AT&T Venture Fund and J.P. Morgan Ventures. LightPath maintains an equity ownership position of 18.3%, which adjusts to 14.6% given full consideration to all potential dilutive shares. ''I am pleased with LightChip's progress as evidenced by our continued investment,'' said Donald E. Lawson, LightPath Chief Executive Officer. ''LightChip's focus remains in the dynamic sector of optical networking for telecommunication bandwidth expansion and we are very excited about this investment as it compliments our overall strategy of providing optical solutions to the telecommunications industry. LightChip should now be in a position to roll out their initial product lines and we have great confidence in the management and product technology that they are creating.'' LightPath also announced that since the completion of its own $4.1 million private placement in early November, a number of existing warrants and other options have been exercised, as well as a stock purchase by Mr. Robert Ripp at the time that he joined the Board of Directors. The result has been the receipt of an additional $1.7 million, bringing the total of new cash into the Company over the past five weeks to approximately $5.8 million. Lawson continued, ''I am also pleased that LightPath shareholders, warrant holders and option holders have expressed their confidence in our strategic directives over the past two years through the voluntary exercise of various warrants and options. We will use these funds to continue to pursue these directives both through the Company developing additional telecommunication oriented optical products and through LightChip and its development of WDM proprietary technology.'' LightPath manufactures GRADIUM® glass products and its proprietary collimator assembly 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.