Laser Photonics Board of Directors Authorizes 2 Million Share Repurchase Program

Orlando, FL January 11, 2023 – Laser Photonics Corporation (NASDAQ:LASE), (“LPC”), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, announced that its Board of Directors authorized a share repurchase program permitting the Company to purchase up to an aggregate of 2 million shares of common stock.

“Since raising approximately $12 million in net proceeds from our IPO last October, our financial performance and fundamentals have steadily improved, while our stock price has not reflected this performance,” said Wayne Tupuola, chief executive officer. “With approximately $1.50 per share in cash*, no debt and profits, we believe the stock is significantly undervalued. Given this gap in perception, our board of directors has approved a 2 million share buyback.”

Purchases made under the program will be made from time to time, at the Company’s discretion, in the open market, through privately negotiated transactions or through other manners as permitted by federal securities laws. The timing, manner, price and amount of any repurchases will be determined by the Company and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors.

*Based on post IPO common stock outstanding of approximately 7.9 million

About Laser Photonics Corporation

Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC seeks to disrupt the $46 billion, centuries old, sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. LPC’s new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using LPC’s “unique-to-industry” systems. For more information, visit www.laserphotonics.com.

Laser Photonics Investor and Public Relations Contact:

Brian Siegel, IRC®, M.B.A.

Senior Managing Director

Hayden IR

(346) 396-8696

[email protected]

 

Stay Laser-Focused,
Subscribe Now!

Illuminate Your Inbox with Laser Photonics Insights.

    Recent News

    Laser Photonics’ CMS Laser Secures Key Order From High-Performance Bike Manufacturer

    Laser Photonics' subsidiary, Control Micro Systems, has secured a significant order for its cutting-edge Laser Engraving System from a leading…

    Read More
    Laser Photonics Secures Repeat Bruce Power Order For Advanced CleanTech Laser Technology

    Laser Photonics Corporation (LPC) announced that Bruce Power in Ontario, Canada, has ordered a second and third CleanTech 500-CTHD laser…

    Read More
    Laser Photonics’ Subsidiary Control Micro Systems Announces Order From Leading Dental Implant Provider

    Laser Photonics Corporation’s subsidiary, Control Micro Systems, secures a significant order from a leading global dental implant provider. The order…

    Read More
    Laser Photonics Propels R&D Efforts in Wafer Marking

    Laser Photonics Corporation (NASDAQ: LASE) and its subsidiary, Control Micro Systems, Inc., have expanded their R&D program for Laser Wafer…

    Read More
    Laser Photonics Propels R&D Efforts in Clear on Clear Plastic Welding

    Innovative Laser Welding Technology To Set New Standards  ORLANDO, FL – Jan. 30, 2025 – Laser Photonics Corporation (NASDAQ: LASE) (“LPC”), a leading…

    Read More
    Laser Photonics, Fonon Technologies and Boston Engineering Announce Next Phase of Strategic Partnership for Laser Cleaning-Enabled Robotic Crawler

    Groundbreaking Technology Has the Potential to Revolutionize Naval MRO Processes, Showcased at Pearl Harbor Naval Shipyard   ORLANDO, Fla., Jan.…

    Read More