Laser Photonics Addresses Stock Performance Since IPO

Rhea-AI Summary

Laser Photonics Corporation (NASDAQ:LASE) provided an update on its stock performance and capitalization post-IPO, which commenced on September 30, 2022. The company highlighted a float of 3.0 million shares and a 180-day lockup on insiders. CEO Wayne Tupuola emphasized solid fundamentals, significant revenue growth, and profits, expecting the IPO funding to facilitate growth in the corrosion control market with its CleanTech laser cleaning products. The total shares outstanding increased from 7,878,417 to 7,878,515 as of October 10, 2022.

Positive

• Strong revenue growth and profits reported.
• Funding from the IPO supports the growth strategy.
• Potential to disrupt the $46 billion sand and abrasives blasting market.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / October 10, 2022 / Laser Photonics Corporation (NASDAQ:LASE), ("LPC"), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, today commented on its post-IPO stock performance and provided an updated capitalization table as of October 10, 2022.

The shares began trading on September 30, 2022, on the Nasdaq Capital Market under the ticker symbol "LASE," with a float of 3.0 million shares. LPC Management and ICT Investments, LLC (the Company's controlling shareholder) are subject to a 180-day lockup that prevents them from selling stock, as are other insiders that bought stock as part of the IPO.

Wayne Tupuola, chief executive officer of Laser Photonics, commented: "While I can only speculate about the share price performance since pricing the IPO, I know that our fundamentals are solid, with strong revenue growth and profits. I also know the management team did not sell a single share in the IPO and has not sold any shares in subsequent trading.

"Our IPO provided us with the necessary funding to execute the initial phases of our growth strategy to disrupt the corrosion control market with our line of CleanTech laser cleaning products. I believe the sheer size of the opportunity, the disruptive capability of our current products and those in development, and our ability to execute will create significant shareholder value over time for our current and prospective investors."

Table of Beneficial Owners

	10/4/2022	10/10/2022	Change	10/10/2022
	Shares Owned			% Total voting power
Total Shares Outstanding	7,878,417	7,878,515	98	100.00%
Controlling Shareholder and Affiliates:
ICT Investments, LLC (2)	4,688,695	4,688,695	0	59.51%
Tatiana Nikitina (4)	41,667	41,765	98	0.53%
Named Executive Officers and Directors:
Wayne Tupuola	101,759	101,759	0	1.29%
Arnold Bykov (4)	46,296	46,296	0	0.59%
Shara Pathak	0	0	0	0.00%
Glenn Peterson	0	0	0	0.00%
Ryan Tennyson	0	0	0	0.00%
Igor Vodopiyanov	0	0	0	0.00%
Tim Schick, CFA (3)	0	0	0	0.00%
All Officers and Directors as a Group	148,055	148,055	0	1.88%
(1) Unless otherwise indicated, the address of such individual is c/o the Company.
(2) Dmitriy Nikitin has voting control through his ownership of all membership interests of ICT Investments LLC.
(3) In July 2022, in connection with his employment with the Company, Mr. Schick received an option to acquire 25,000 shares of common stock that vests in equal amounts over a four­year period commencing with the anniversary date of his employment, with accelerated vesting in the event of a change of control of the Company.
(4) Tatiana Nikitina and Arnold Bykov resigned from the board effective October 4, 2022

Cautionary Note Concerning Forward-Looking Statements

This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations.

About Laser Photonics Corporation

Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC 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. LPC's new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for 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, industrial, maritime, space exploration and shipbuilding industries are using LPC's "unique-to-industry" systems. For more information, visit www.laserphotonics.com.

Laser Photonics Investor Relations Contact:
Brian Siegel, IRC®, M.B.A.
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com

SOURCE: Laser Photonics Corp.

View source version on accesswire.com:
https://www.accesswire.com/719740/Laser-Photonics-Addresses-Stock-Performance-Since-IPO

FAQ

What is the stock performance of Laser Photonics (LASE) since its IPO?

Laser Photonics began trading on September 30, 2022, but specific stock performance metrics were not detailed in the press release.

What is the current number of shares outstanding for LASE?

As of October 10, 2022, the total shares outstanding for Laser Photonics increased to 7,878,515.

What is the significance of the 180-day lockup period for LASE shareholders?

The 180-day lockup restricts insiders and major shareholders from selling their shares, potentially stabilizing the stock price post-IPO.

What market does Laser Photonics aim to disrupt?

Laser Photonics aims to disrupt the $46 billion sand and abrasives blasting market with its CleanTech laser cleaning solutions.