subslover
2 weeks ago
Laser Photonics Corporation Announces Pricing of $3.0 Million Private Placement
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, today announced that it has entered into a securities purchase agreement with institutional investors for aggregate gross cash proceeds of $3.0 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the private placement for working capital and general corporate purposes.
In connection with the private placement, the Company will issue an aggregate of 1,500,000 units and pre-funded units. The pre-funded units will be sold at the same purchase price as the units, less the pre-funded warrant exercise price of $0.001. Each unit and pre-funded unit will consist of one share of common stock (or one pre-funded warrant) and one common warrant, each exercisable for one share of common stock at an exercise price of $4.34 per share. The common warrant will be exercisable on the earlier of six months after issuance or shareholder approval and will expire 5.5 years from issuance.
The closing of the private placement is expected to occur on or about August 19, 2024, subject to the satisfaction of customary closing conditions.
Aegis Capital Corp. is acting as the Exclusive Placement Agent for the private placement. CM Law PLLC is serving as counsel to the Company for the private placement. Kaufman & Canoles, P.C. is serving as counsel to Aegis Capital Corp. for the private placement.
The securities described above are being sold in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws. Pursuant to a registration rights agreement with the investor, the Company has agreed to file one or more registration statements with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of common stock sold in the private placement and the shares of common stock issuable upon exercise of the pre-funded warrants and the warrants sold in the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Laser Photonics Corporation
subslover
2 weeks ago
Laser Photonics Scores Dual Order From Global Oil Giant Through Distributor
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it has scored an international order for two of its laser machines, the CleanTech 100-CTHD and the MarkStar 20-MSH-Pro, from a global oil and gas producer through a distributor located abroad.
As an innovative method to remove corrosion, laser ablation technology increasingly finds its way into the energy sector. For the oil and gas industry specifically, it provides a safe, sustainable, and efficient method to remove rust from critical equipment and infrastructure to restore their integrity, reduce the risk of leaks, and ensure uninterrupted functionality.
LPC’s CleanTech Handheld LPC-100-CTHD, acquired by a major oil and gas producer based abroad, is a precision pulsed laser instrument that integrates dual axis technology for the effective processing of complex shapes and surfaces. The CleanTech 100-CTHD is a compact and mobile handheld unit, ready for in-field cleaning, polishing, and other surface preparation needs of a small scale.
“This order marks a significant milestone for Laser Photonics as we expand into the oil and gas market,” said Wayne Tupuola, CEO of LPC. “As awareness of this innovative cleaning method grows, laser-blasting proves its versatility across numerous industries. Wherever rust removal is needed, our state-of-the-art machines are the solution.”
The second product in the dual order, the MarkStar 20-MSH-Pro, is LPC’s flagship laser marking system. This tool enables precise, permanent, and on-the-fly marking on various materials, including curved and textured surfaces. Laser marking is a quick and efficient method for identification, traceability, and streamlined inventory management. The MarkStar 20-MSH-Pro is maintenance-free, easy to master, and requires no consumables to operate.
This sale strengthens LPC’s expanding international presence. While the company continues to prioritize North America as its primary market, the increasing share of overseas sales highlights its expanding brand recognition and opens up new opportunities for attracting a broader customer base. By tapping into diverse markets, LPC can leverage new partnerships, adapt to varying industry needs, and drive further innovation. The company’s commitment to sustainability and providing cutting-edge solutions resonates with clients worldwide, paving the way for sustained growth and success on a global scale.
For more information, visit Laser Photonics at https://laserphotonics.com/.
subslover
2 weeks ago
Laser Photonics To Deliver DefenseTech Laser Cleaning Technology Through Incredible Supply & Logistics for Use at Naval Command
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, in partnership with Fonon Technologies, a subsidiary of Fonon Corporation, announced today that it received an order for its DefenseTech MF-1020 portable handheld laser cleaning system through its distribution partner Incredible Supply & Logistics (ISL), the award-winning product distribution, mission kitting and third-party logistics (3PL) company.
Equipped with dual axis technology, the DTMF-1020 air-cooled handheld pulsed laser system was designed by LPC to facilitate maintenance processes. The DTMF-1020 portable finishing laser system purchased through ISL will be utilized by a local Navy command in the Virginia Beach area.
“We partnered with ISL to deliver effective solutions to the U.S. military, and this deal is a testament to that,” said Bryan Lee, Vice President of Fonon Technologies. “This command required a powerful laser system with flexible voltage – both the 110/125V used in the U.S. and the 220/240V for international use – to be mission-ready, globally. Our next-generation DTMF-1020 portable finishing laser was the best solution on the market.”
This order, received through ISL, underscores the commitment of Laser Photonics and Fonon Technologies to delivering high-quality laser solutions and reinforces its growing reputation in the defense sector.
LPC’s DefenseTech laser systems provide a sustainable solution for surface preparation in defense and naval MRO settings. Laser cleaning eliminates the need for chemicals and abrasive media, significantly reducing secondary waste and health risks for operators. DefenseTech effectively removes rust, coatings and residue while preserving the surface integrity of critical components and ensuring operational readiness and extended equipment lifespan.
For more information about the DefenseTech line of laser cleaning systems, please visit https://fonon.us or contact their sales department at sales@fonon.us.
subslover
3 weeks ago
Laser Photonics and Boston Engineering Announce Partnership To Equip Naval Robotic Crawler With Laser Technology
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for laser cleaning and other material processing applications, and Boston Engineering Corporation (Boston Engineering), a product design and engineering consulting company, announced that they have formed a partnership to integrate laser technologies into autonomous robots for use in the naval defense industry.
Boston Engineering specializes in developing unmanned vehicles that can autonomously perform tasks previously done by humans. This has resulted in the company creating systems that help complete operational tasks in the maritime industry faster and more precisely. Boston Engineering has also created technologies that protect people from injury and, in many cases, extend detection, inspection and repair capabilities. Now, Boston Engineering has selected LPC as its technology partner to provide advanced laser tools for integration into its robotic crawler technology.
“Laser Photonics enters this partnership with Boston Engineering with great enthusiasm, eager to combine the power of autonomous robots and laser technology,” said Wayne Tupuola, CEO of LPC. “We are ready to revolutionize the way naval drydock and related maintenance operations are performed, helping address the challenges of labor shortages and safety concerns in situations where fast fleet turnaround is critical.”
Boston Engineering will incorporate LPC’s cutting-edge laser technologies into its robotic crawler, which will then be able to scale ship hulls and other structures to automate corrosion removal, contamination cleaning, and other material processing tasks safely and effectively. This includes effectively operating in hard-to-reach and dangerous areas.
Mark Smithers, CTO and co-founder of Boston Engineering, said: “There’s a big push in the naval defense space for automation. The addition of LPC technology to our robotic crawler gives us another potent asset in our arsenal. Laser cleaning is highly time- and labor-efficient for optimizing maintenance and repair. We look forward to equipping our crawler with laser power through this partnership.”
Integrating these two technologies together will lead to a definitive solution for professionals in the defense, maritime, shipbuilding and boat maintenance/repair industries who are looking for a viable and safe method of effectively addressing surface preparation, cleaning, decontamination and restoration.
For more information, visit Laser Photonics at https://laserphotonics.com/ or Boston Engineering at https://www.boston-engineering.com/.
subslover
3 weeks ago
Laser Photonics and Boston Engineering Announce Partnership To Equip Naval Robotic Crawler With Laser Technology
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for laser cleaning and other material processing applications, and Boston Engineering Corporation (Boston Engineering), a product design and engineering consulting company, announced that they have formed a partnership to integrate laser technologies into autonomous robots for use in the naval defense industry.
Boston Engineering specializes in developing unmanned vehicles that can autonomously perform tasks previously done by humans. This has resulted in the company creating systems that help complete operational tasks in the maritime industry faster and more precisely. Boston Engineering has also created technologies that protect people from injury and, in many cases, extend detection, inspection and repair capabilities. Now, Boston Engineering has selected LPC as its technology partner to provide advanced laser tools for integration into its robotic crawler technology.
“Laser Photonics enters this partnership with Boston Engineering with great enthusiasm, eager to combine the power of autonomous robots and laser technology,” said Wayne Tupuola, CEO of LPC. “We are ready to revolutionize the way naval drydock and related maintenance operations are performed, helping address the challenges of labor shortages and safety concerns in situations where fast fleet turnaround is critical.”
Boston Engineering will incorporate LPC’s cutting-edge laser technologies into its robotic crawler, which will then be able to scale ship hulls and other structures to automate corrosion removal, contamination cleaning, and other material processing tasks safely and effectively. This includes effectively operating in hard-to-reach and dangerous areas.
Mark Smithers, CTO and co-founder of Boston Engineering, said: “There’s a big push in the naval defense space for automation. The addition of LPC technology to our robotic crawler gives us another potent asset in our arsenal. Laser cleaning is highly time- and labor-efficient for optimizing maintenance and repair. We look forward to equipping our crawler with laser power through this partnership.”
Integrating these two technologies together will lead to a definitive solution for professionals in the defense, maritime, shipbuilding and boat maintenance/repair industries who are looking for a viable and safe method of effectively addressing surface preparation, cleaning, decontamination and restoration.
For more information, visit Laser Photonics at https://laserphotonics.com/ or Boston Engineering at https://www.boston-engineering.com/.
subslover
5 months ago
Laser Photonics Secures Order From L3Harris Technologies for LaserTower Marking & Engraving System
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for laser cleaning and other material processing applications, announced that it received an order for its LaserTower COMPACT marking and engraving system from L3Harris Technologies, Inc.
“Laser Photonics is proud to supply laser marking equipment to L3Harris, one of the largest long-time defense contractors in the United States,” said Wayne Tupuola, CEO of Laser Photonics. “This deal underscores our commitment to excellence and innovation. We look forward to delivering cutting-edge solutions that will enhance their operations and contribute to forging a future that is safer and more technologically advanced.”
L3Harris will use LPC’s LaserTower COMPACT system at its semiconductor division in Palm Bay, Florida. The company focuses on command and control systems, precision munitions, avionics and electronic systems, and other specialized equipment for the government, defense and commercial sectors.
The LaserTower COMPACT is an industrial-grade laser marking, engraving and etching system that can operate as a stand-alone unit or get integrated into an I/O production line. Our LaserTower series offers effortless “plug and play” setup, user-friendly operation and enduring performance. It’s the ideal solution for precise, legible, permanent direct part marking, including UDI/UID barcodes, logos and other service marks for a wide range of materials. The system integrates LPC’s proprietary technology for easy barcode scanning.
For more information about the LaserTower line of laser marking and engraving systems, please visit https://www.laserphotonics.com or contact our sales department at fiberlaser@laserphotonics.com.
subslover
5 months ago
Laser Photonics Corporation Enters Distribution Agreement With Incredible Supply & Logistics for Its Military & Industrial Laser Solutions
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (NASDAQ: LASE) (LPC), a leading global developer of industrial laser systems for laser cleaning and other material processing applications announced today that it has entered into a distribution agreement with Incredible Supply & Logistics (ISL), an award-winning product distribution, mission kitting, and third-party logistics (3PL) company specializing in supporting federal government customers and defense contractors as well as serving the maritime & space communities.
“This partnership will increase our customer base and expand our distributor network while equipping an industry-leading supplier with the cutting-edge industrial laser solutions that Government and Defense clients have been demanding,” said Wayne Tupuola, CEO of Laser Photonics. “What underlies ISL’s success with these demanding, high-dollar niche markets is their uncanny ability to source an entire bill of materials from top to bottom more cost effectively than their competition. No items are too small, too big, too unusual, or too next-generation for them. We are excited to have a new partner working to provide world-class laser systems to a large, critical audience.”
ISL was featured on Industrial Distribution magazine’s 2018 Watch List, which shines a light on companies that are the “ones-to-watch” outside of the 50 biggest MRO distributors. Laser Photonics will benefit from the company’s exceptional federal subcontractor support relationships, experience and expertise which includes dozens of strong links to the U.S. Air Force, Army, Navy, Coast Guard, Defense Logistics Agency, Department of State, and Missile Defense Agency. LPC will also greatly benefit from ISL’s national distribution network, which includes a closely aligned supplier network, robust sourcing, manufacturing resources, and a team of subject matter experts and support personnel.
Laser Photonics joined with ISL in mid-February 2024. As part of this vendor agreement, the initial products that will be offered through ISL will include:
DefenseTech Handheld DT-50-CTHD Laser Cleaning System
DefenseTech Blaster Cabinet DT-50-BC Laser Cleaning System
MarkStar Handheld LPC-20-MSH Laser Engraving System
WeldTech LPC-1500-LWS Laser Welding System
Personal Protective Equipment (PPE)
Laser training for the products offered and more
About Laser Photonics Corporation
subslover
6 months ago
Laser Photonics Receives Dual Order From Mine System Solutions for Laser Cleaning and Marking Systems
ORLANDO, Fla.--(BUSINESS WIRE)-- Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it has received an order from Mine System Solutions (MSS) for its CleanTech 3000-CTHD laser cleaning system and its MarkStar Pro laser marking and engraving system.
"Laser Photonics was the preferred choice for MSS due to our technology's ability to be used for numerous applications in the mining industry," said Wayne Tupuola, CEO of Laser Photonics. "Our CleanTech and MarkStar technology provided the company with high-quality, precise solutions that are cost-effective, operator-safe and environmentally friendly."
MSS, based in Boonville, Ind., provides repairs and upgrades for mining equipment, from heavy equipment servicing to complete remanufacturing. The company strives to offer the mining industry safety and quality that matches or exceeds original equipment manufacturing at a fraction of the cost. MSS will use Laser Photonics' CleanTech and MarkStar systems in a range of its services, including repair and remanufacturing. The company will also utilize the laser technology to upgrade and improve existing processes for enhanced performance.
For more information about the CleanTech line of laser cleaning systems or the MarkStar family of marking and engraving equipment, please visit https://www.laserphotonics.com or contact our sales department at fiberlaser@laserphotonics.com.
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