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Laser Technology OKs Merger

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ENGLEWOOD, Colo., Jan. 2 -- Laser Technology Inc. (LTI), a maker of laser-based speed and distance measurement instruments, or laser rangefinders, announced yesterday that its shareholders have approved its merger with LTI Acquisition Corp.

LTI Acquisition Corp., a private company whose shareholders include an LTI officer, certain directors and shareholders, is purchasing 100 percent of LTI's outstanding stock for $2.06 per share. As a result of the merger, effective yesterday, LSI (Amex: LSR) will become a privately held company and its shares will be delisted from the American Stock Exchange.

The company said detailed instructions, including a transmittal letter, will be mailed to shareholders within the next 10 days describing the method of exchanging LSI stock certificates for cash.

LTI makes laser-based speed and distance measuring systems, most notably the handheld speed guns used by police to nab lead-footed drivers. It also makes survey and mapping systems that can be integrated with software for record keeping and data analysis. Other products include docking aids used on ships and space shuttles and road spikes used by law enforcement agencies to deflate automobile tires during high-speed chases. The company's primary customers are state and local governments.

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Jan 2004
industriallaser rangefinderslaser technologyLTILTI Acquisition Corpmeasuring systemsNews & Features

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