ORLANDO,
Fla., Feb. 19, 2025 /PRNewswire/
-- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath,"
the "Company," or "we"), a leading provider of next-generation
optics and imaging systems for both defense and commercial
applications, today announced that it has completed the previously
announced acquisition of G5 Infrared, LLC ("G5 Infrared"), a
New Hampshire-based company
specializing in infrared optical solutions (the "Transaction"). The
Transaction closed on February 18,
2025 (the "Closing Date").
The acquisition of G5 Infrared marks a significant step forward
in LightPath's strategy to become a leading provider of infrared
imaging solutions in the $9 billion
infrared imaging market. G5 Infrared's high-end cooled infrared
camera product line, with several established programs of record,
expands LightPath's product portfolio and strengthens its presence
in the defense and government markets. The transaction adds
meaningful scale, provides opportunities to integrate LightPath's
proprietary BlackDiamond™ glass with G5's products, and positions
the combined company for continued growth.
Sam Rubin, President and CEO of
LightPath, said: "The acquisition of G5 Infrared is a significant
milestone for LightPath as we broaden our product portfolio and
expand our reach into high-growth defense markets. G5's high-ASP
cooled infrared camera solutions complement our existing uncooled
offerings, enabling us to deliver even greater value to a wider
range of potential customers.
"I would encourage our investors to tune into our previously
announced virtual investor day presentation on Tuesday for an
overview of the acquisition and our go-forward trajectory, and look
forward to working closely with the G5 team in the quarters to come
as we seek to drive sustainable, long-term value for my fellow
shareholders."
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading
provider of next-generation optics and imaging systems for both
defense and commercial applications. As a vertically integrated
solutions provider with in-house engineering design support,
LightPath's family of custom solutions range from proprietary
BlackDiamond™ chalcogenide-based glass materials – sold under
exclusive license from the U.S. Naval Research Laboratory – to
complete infrared optical systems and thermal imaging assemblies.
The Company's primary manufacturing footprint is located in
Orlando, Florida with additional
facilities in Texas, New Hampshire, Latvia and China. To learn more, please visit
www.lightpath.com.
Forward-Looking Statements
This press release includes statements that constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as "forecast," "guidance," "plan," "estimate," "will,"
"would," "project," "maintain," "intend," "expect," "anticipate,"
"prospect," "strategy," "future," "likely," "may," "should,"
"believe," "continue," "opportunity," "potential," and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements are based on information available at
the time the statements are made and/or management's good faith
belief as of that time with respect to future events and are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in or suggested by the
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, the impact of
varying demand for the Company products; the ability of the Company
to obtain needed raw materials and components from its suppliers;
actions governments, businesses, and individuals take in response
to the pandemic, including restrictions on onsite commercial
interactions; general economic uncertainty in key global markets
and a worsening of global economic conditions or low levels of
economic growth; geopolitical tensions, the Russian-Ukraine
conflict, and the Hamas/Israel
war; the effects of steps that the Company could take to reduce
operating costs; the inability of the Company to sustain profitable
sales growth, convert inventory to cash, or reduce its costs to
maintain competitive prices for its products; circumstances or
developments that may make the Company unable to implement or
realize the anticipated benefits, or that may increase the costs,
of its current and planned business initiatives; and those factors
detailed by LightPath Technologies, Inc. in its public filings with
the Securities and Exchange Commission, including its Annual Report
on Form 10-K and Quarterly Reports on 10-Q. Should one or more of
these risks, uncertainties, or facts materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by the
forward-looking statements contained herein. Accordingly, you are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of
future performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Except as required under the federal
securities laws and the rules and regulations of the Securities and
Exchange Commission, we do not have any intention or obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events, or otherwise.
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SOURCE LightPath Technologies
