Laser Photonics Provides Shareholder Update
08 October 2024 - 10:12PM
Business Wire
Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading
global developer of industrial laser systems for cleaning and other
material processing applications, today commented on recent
business updates and trading activity.
Recent Orders: Expanding Across Key Verticals
LPC continues to expand its market presence across both existing
and new verticals.
CleanTech: Recent orders demonstrate the company's
growing impact in sectors such as:
- Solar Energy and Semiconductor: Hemlock Semiconductor, a
global leader in the production of hyper-pure polysilicon used in
semiconductor and solar applications, has adopted LPC’s CleanTech
laser technology to enhance its manufacturing processes, showcasing
the versatility and industrial applicability of LPC's
solutions.
- Energy: Acuren, a leader in nondestructive testing
services, has selected LPC’s CleanTech laser systems to support
critical inspection and maintenance processes, further
demonstrating the technology's value in ensuring operational safety
and efficiency in the energy sector.
- Oil & Gas: A global company in the oil and gas
sector.
DefenseTech:
- U.S. Navy: The Pearl Harbor Naval Shipyard and
Intermediate Maintenance Facility has integrated LPC’s DefenseTech
laser system for the removal of corrosion from naval vessels. This
technology enhances the Navy's maintenance capabilities, increasing
efficiency and reducing environmental impact.
- Military Equipment and Logistics: ADS Inc., in
collaboration with Fonon Technologies, secured an order for LPC’s
DefenseTech laser system to support the U.S. Marine Aviation
Logistics Squadron. This deal further strengthens LPC’s footprint
in military maintenance and logistics through advanced laser
cleaning solutions.
New Products and Innovations
LPC continues to drive innovation with significant progress in
product development:
- Laser Shield Anti-Drone System (LSAD): Following
successful initial concept testing in June, LPC released a
conceptual video and marketing programs to increase awareness of
its Laser Shield Anti-Drone System (LSAD), designed for security
applications. The Company will announce key development milestones
as the project progresses.
- CleanTech MegaCenter 5010: LPC introduced the next
generation of its industrial material processing system, the
CleanTech MegaCenter 5010. This Class I semi-automated system
enhances productivity, positioning LPC as a leader in advanced
industrial solutions.
Financing Update
On August 16, LPC entered into a securities purchase agreement
for gross cash proceeds of $3.0 million. These funds will support
the Company’s growth and expansion into new markets, fueling the
momentum generated by recent product innovations and customer
wins.
Recent Trading Activity and Stock Volatility
The Company believes positive news surrounding LPC, particularly
the excitement generated by the LSAD concept, contributed to
significant stock volatility in September. LPC shares rose from
$3.29 on September 3 to an intraday high of $19.80 on September 23.
This price movement attracted the attention of short sellers. LPC
recently became aware of a short report published after the writer
had already taken a short position, attempting to manipulate the
stock price for profit. The Company is actively exploring legal
options and wishes to clarify the following:
- The report centers on allegations involving an individual
affiliated with, but not employed by, or a director of, LPC. This
individual is not involved in the Company’s day-to-day
operations.
- The individual referenced has never been convicted of any
felony, including the claims made in the report.
- The report was released post short-positioning, suggesting an
intent to manipulate the stock price downward for personal
gain.
LPC remains committed to providing shareholders with transparent
and timely updates as the Company continues to grow across its core
business segments.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and
R&D Center of Excellence for industrial laser technologies and
systems. Laser Photonics seeks to disrupt the $46 billion,
centuries-old sand and abrasives blasting markets, focusing on
surface cleaning, rust removal, corrosion control, de-painting and
other laser-based industrial applications. Laser Photonics’ new
generation of leading-edge laser blasting technologies and
equipment also addresses the numerous health, safety, environmental
and regulatory issues associated with old methods. As a result,
Laser Photonics has quickly gained a reputation as an industry
leader in industrial laser systems with a brand that stands for
quality, technology and product innovation. Currently,
world-renowned and Fortune 1000 manufacturers in the aerospace,
automotive, defense, energy, maritime, nuclear and space industries
are using Laser Photonics’ “unique-to-industry” systems. For more
information, visit https://www.laserphotonics.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of applicable securities laws. These statements are
based on current expectations as of the date of this press release
and involve risks and uncertainties that may cause results and uses
of proceeds to differ materially from those indicated by these
forward-looking statements. We encourage readers to review the
“Risk Factors” in our Registration Statement for a comprehensive
understanding. Laser Photonics Corp. undertakes no obligation to
revise or update any forward-looking statements, except as required
by applicable laws or regulations, to reflect events or
circumstances after the date of this press release.
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Investor Relations Contact: laser@haydenir.com
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