Laser Photonics Provides Shareholder Update

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008664457/en/

Investor Relations Contact:

laser@haydenir.com

Source: Laser Photonics Corporation

FAQ

What new products has Laser Photonics (LASE) recently introduced?

Laser Photonics recently introduced the Laser Shield Anti-Drone System (LSAD) and the CleanTech MegaCenter 5010, a next-generation industrial material processing system.

How much financing did Laser Photonics (LASE) secure in August 2023?

Laser Photonics entered into a securities purchase agreement for gross cash proceeds of $3.0 million on August 16, 2023.

What caused the stock volatility for Laser Photonics (LASE) in September 2023?

The company believes positive news, particularly excitement around the LSAD concept, contributed to significant stock volatility. LASE shares rose from $3.29 on September 3 to an intraday high of $19.80 on September 23, attracting short sellers.

Which major clients have recently adopted Laser Photonics' (LASE) technology?

Recent major clients include Hemlock Semiconductor in the solar energy and semiconductor sectors, Acuren in the energy sector, and the U.S. Navy for naval vessel maintenance.