nLight (LASR) has won a contract from the US Department of Defense to deliver high-energy laser weapon systems, supporting the agency's cruise missile defense architecture, the company said Thursday.
The initial award is valued at $44 million, with a maximum value of $627 million, the company said.
nLight will initially build prototypes rated at around 150 kW to address urgent operational demands and scale subsequent iterations to reach a 300 kW to 500 kW threshold for robust cruise missile defense, it said.
Shares of the company were up 23% in Thursday afternoon trading.
Price: 72.38, Change: +13.70, Percent Change: +23.35
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments