Laser Energetics Secures $12 Million in Financing
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Common Stock Equity Investment is Priced at a Premium to the Market
Mercerville, NJ - February 8, 2008 - Laser Energetics, Inc. (Pink Sheets: LNGT) today announced that it has executed a financing agreement for a $12 million equity investment into the Company. The investment is priced at a substantial premium to the current market price. The transaction, which is subject to due diligence and the usual and customary closing conditions, is expected to close within the next 30 days.
The investment is being made by a company with whom LEI already has an existing business relationship.
Robert D. Battis, CEO of Laser Energetics, stated, "We are incredibly excited about this development. The $12 million will give us the ability to immediately ramp up our production capacity to meet the demand for our BrightStar(TM) laser systems. It will also accelerate our research and development efforts, allowing us to bring both new technology and refinements to our existing technologies to the market in a very rapid fashion. It is unusual for a company our size to receive such a large equity investment, particularly at a premium, and we view this as validation of our business plan and our technologies. We hope to report additional exciting developments regarding our Company in the very near future."
About Laser Energetics, Inc.
LEI has and continues to develop a comprehensive and strategic laser product line that addresses applications in Industry, Science, Medicine and the Military. The Company has had a primary focus on its Alexandrite laser technology. These tunable solid state lasers are unique in that they can be conductively air cooled to compete favorably against water cooled lasers in many applications. In addition, these lasers have one of the greatest wavelength tuning ranges with a bandwidth of over 250nm. The company is pursuing markets that are diverse yet can use the same laser with their compact user friendly design. This laser technology provides a sustainable advantage over many other lasers because of their tune-ability, conductively air cooled operation, and their efficiency allowing these lasers to operate at preferred lower voltages such as 110 Volts as well as the military standard 28 VDC, as compared to other less efficient competitive lasers that are large and need 220 Volts to operate.
Contact: Laser Energetics, Inc. Investor Relations
at mail@laserenergetics.com or call (609) 587-8250
