Laser Photonics Flat on Integrating Beamer System
Shares in Laser Photonics Corporation (NASDAQ:LASE) just cleared breakeven Thursday. The Orlando-based Laser, which purports to be a global leader in industrial laser systems for cleaning and other material processing applications, today announced the completion of the integration of Beamer Laser Marking Systems assets into LPC's operations in Florida.
According to ARCH Cutting Tools, Beamer's former owner, Beamer generated between $3 million and $5 million in unaudited revenue annually between 2022 and 2024.
Per the transaction, Laser Photonics will acquire all assets related to Beamer from its parent company, Fonon Quantum Technologies, Inc., in an all-stock transaction consisting of three million shares of LASE common stock and one warrant for three million shares of LASE common stock, with an exercise price of $4.34 per share.
The deal includes:
• Beamer's laser manufacturing equipment and inventory
• All customer contracts and open purchase orders
• All Beamer intellectual property, including proprietary designs and software
• Existing relationships with distributors and service partners
• Transfer of key personnel needed to fulfill orders and maintain continuity
The deal has been signed by both LPC and FQTI. LPC will next submit the deal for review to NASDAQ and anticipates closing the transaction once it is approved by NASDAQ.
LASE shares gained two cents to $2.99.
