Laser Photonics, which manufactures laser-based systems for industrial cleaning and rust removal, raised $15 million by offering 3 million shares at $5. At pricing, the company commands a market value of $39 million.
The company claims it is pioneering a new generation of laser blasting technologies focused on disrupting the sandblasting and abrasives blasting markets. It offers a portfolio of integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre-welding and post-welding, laser cleaning and surface conditioning. Its says that its solutions are used throughout product lifecycles, including product fabrication, maintenance and repair, and aftermarket operations, and can be used in various industries dealing with materials processing, including automotive, aerospace, healthcare, consumer products, shipbuilding, aerospace, heavy industry, machine manufacturing, nuclear maintenance and de-commissioning and surface coating.
Because the company is listing with an IPO market cap of less than $50 million, it will be excluded from our 2022 IPO stats.
The Orlando, FL-based company plans to list on the Nasdaq under the symbol LASE. Alexander Capital acted as sole bookrunner on the deal.
