ORLANDO, Fla., June 13, 2013 /PRNewswire/ -- LightPath
Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company" or
"we"), a leading vertically integrated global manufacturer and
distributor of proprietary optical components and high-level
assemblies, today announced it has received notification from The
NASDAQ Listing Qualifications department of The NASDAQ Stock
Market, LLC that the Company has regained compliance with the
$1.00 minimum bid price requirement
for continued listing on The NASDAQ Capital Market, as required by
NASDAQ Listing Rule 5550(a)(2) (the "Listing Rule").
(Logo:
http://photos.prnewswire.com/prnh/20130122/FL45558LOGO)
As previously disclosed, on January 15,
2013, The NASDAQ Listing Qualifications department notified
the Company that for the past 30 consecutive business days, the
closing bid price per share of the Company's common stock was below
the $1.00 minimum bid price
requirement and, as a result, the Company was not in compliance
with the Listing Rule. The Company was provided 180 calendar days,
or until July 15, 2013, to regain
compliance.
On June 13, 2013, the Company
received notification from The NASDAQ Listing Qualifications
department that it had regained compliance with the minimum bid
price requirement under the Listing Rule after the Company's common
stock attained a closing bid price of at least $1.00 per share for ten consecutive business days
and that the matter is now closed. During the ten consecutive
business day period, from May 30,
2013 to June 12, 2013, the
closing bid price per share of our common stock ranged from
$1.03 to $1.45.
About LightPath Technologies:
LightPath Technologies,
Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the
industrial, defense, telecommunications, testing and measurement,
and medical industries. LightPath designs, manufactures, and
distributes optical and infrared components including molded glass
aspheric lenses and assemblies, infrared lenses and thermal imaging
assemblies, fused fiber collimators, and gradient index GRADIUM®
lenses. LightPath also offers custom optical assemblies, including
full engineering design support. For more information, visit
www.lightpath.com.
This news release includes statements that constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding our ability to expand our presence
in certain markets, future sales growth, continuing reductions in
cash usage and implementation of new distribution channels. This
information may involve risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to, factors detailed by
LightPath Technologies, Inc. in its public filings with the
Securities and Exchange Commission. Except as required under the
federal securities laws and the rules and regulations of the
Securities and Exchange Commission, we do not have any intention or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Investor Contacts:
Jordan
Darrow
Darrow Associates, Inc.
jdarrow@darrowir.com
631-367-1866
Dorothy Cipolla, CFO
LightPath Technologies, Inc.
407-382-4003 x305
Email:
dcipolla@lightpath.com
Web:
www.lightpath.com
SOURCE LightPath Technologies, Inc.