BUZZ-Lightpath Technologies slides after $60 million share sale
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Optics and imaging systems provider LightPath Technologies’shares drop 8.6% to $8.34LPTH announces pricing of public offering of 7.75 million shares at $7.75 apiece for gross proceeds of nearly $60 millionOffering priced at 15% discount to stock’s last closeCanaccord Genuity and Craig-Hallum were joint bookrunners for the offeringLPTH plans to use proceeds for working capital, investments, acquisitions, and general purposesAll four brokerages covering the stock rate it “buy” or higher; median PT $10.50 - data compiled by LSEGAs of last close, LPTH stock up 158.4% YTD
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