LightPath Technologies, a provider of next-generation optics and imaging systems serving defense and commercial markets, announced a $100 million registered direct primary and secondary offering of Class A common stock.
Under the terms of the transaction, the company and North Run Strategic Opportunities Fund I, LP entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 7,142,800 shares of Class A common stock at a price of $14.00 per share.
The offering consists of two equal components. LightPath is selling 3,571,400 shares through a primary offering, while North Run Strategic Opportunities Fund I, LP is selling 3,571,400 shares through a secondary offering. The primary portion of the transaction is expected to generate gross proceeds of approximately $50 million for the company.
LightPath said it intends to use the net proceeds from the primary offering for working capital, investments, acquisitions, and general corporate purposes. The company will not receive any proceeds from the secondary offering.
The transaction is expected to close on or about June 3, 2026, subject to customary closing conditions.
Craig-Hallum is serving as the sole placement agent for the offering.
The primary offering is being conducted pursuant to an effective shelf registration statement on Form S-3 that was declared effective by the U.S. Securities and Exchange Commission in December 2025. The secondary offering is being conducted pursuant to a separate effective shelf registration statement declared effective in May 2025.
No financial advisors, executives, or company representatives were quoted in the announcement, and no additional strategic details regarding potential acquisitions or investments were disclosed.
