Shanghai Investors Increase Stake in LightPath Technologies

LightPath Technologies Inc. plans to use a $1.3 million investment to support new product development, sales and marketing of its IR products and the acquisition of new equipment.

The optical components manufacturer sold 930,790 shares of common stock to Pudong Science and Technology Investment (Cayman) Co. Ltd. This brings the Shanghai investment group’s stake in LightPath from 9.37 percent to 14.9 percent.

LightPath provides components including aspheric, IR and gradient index lenses and assemblies and fused fiber collimators for the defense, telecommunications, testing and measurement, and medical industries.