Laser Photonics exchanges warrants for 3.2 million shares

Laser Photonics Corporation (NASDAQ: LASE) announced it has entered into agreements to exchange outstanding warrants for common stock shares. The company will issue 3.2 million shares of common stock in exchange for warrants that entitled holders to purchase up to 0.8 million shares at $4.34 per share.

The exchanged warrants were issued in the company's August 2024 private investment in public equity financing and included a full ratchet anti-dilution provision. The warrant exchange removes these provisions from the company's capital structure.

"We believe that the warrant exchange strengthens our ability to execute on our strategic growth initiatives, including advancing AI-driven lasers with robotic cells, expanding our portfolio of anti-drone laser systems, including our LSAD platform and other anti-drone technologies, and potential M&A," said Wayne Tupuola, Chief Executive Officer.

The shares were issued under an exemption from Securities Act of 1933 registration requirements. Laser Photonics manufactures industrial laser systems for cleaning and material processing applications, serving customers in aviation, aerospace, automotive, defense, energy, maritime, nuclear and space exploration industries.

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