Why LightPath Technologies Stock Is Getting Hammered During Wednesday's After-Hours Session

LightPath Technologies Inc LPTH shares are trading lower by 22.01% to $1.15 during Wednesday's after-hours session. The company announced a proposed public offering of common stock, no terms were disclosed.

LightPath Technologies says the offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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LightPath Technologies intends to use the net proceeds from the offering for working capital and other general corporate purposes.

According to data from Benzinga Pro, LPTH has a 52-week high of $2.87 and a 52-week low of $0.99.