BUZZ-LightPath Technologies slides after unveiling planned capital raise

Reuters12-12
BUZZ-<a href="https://laohu8.com/S/LPTH">LightPath Technologies</a> slides after unveiling planned capital raise

** Optics and imaging systems provider LightPath Technologies' LPTH.O shares fall 9% to $8.29 in extended trading

** LPTH kicks off public offering of common stock; size not disclosed

** Canaccord Genuity and Craig-Hallum are joint bookrunners for the offering

** LPTH plans to use proceeds for working capital, investments, acquisitions, and general purposes

** With 45.4 million outstanding shares, LPTH has a $400.7 million market cap, per LSEG data

** All four brokerages covering the stock rate it "buy" or higher; median PT $10.50 - data compiled by LSEG

** As of last close, LPTH stock up 158.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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