ALBUQUERQUE, N.M., Sept. 26 -- LightPath Technologies Inc. has achieved the terms of its Aug. 9 agreement to acquire Geltech Inc. LightPath has issued .8 million shares of its class A common stock in return for all of Geltech's stock. The transaction was worth a total of $27.5 million based on the closing share price at the time of the agreement in August. LightPath also agreed to take on $1.4 million worth of Geltech's debt.LightPath will value the transaction using its purchase accounting method, which will result in a significant amount of goodwill and will be amortized over a short period of time, LightPath said. All in-process research and development acquired by LightPath will be expensed at the time of the acquisition and will be accounted for at the beginning of the company's first quarter.LightPath manufactures collimator assemblies, glass products and other optical telecom products. Geltech is located in Orlando, Fla. where it manufactures precision molded aspherical optics used in the active telecom components market.