LightPath Technologies has agreed to sell its China subsidiary for $4.5 million, completing its transition to a fully Western-aligned manufacturing footprint. The buyer is an entity owned by members of the facility's management team, with payment in installments over five years and closing expected in the coming weeks. After the sale, LightPath will have no facilities or operations in China, though the purchaser will continue to supply products to LightPath for commercial customers in the United States and Europe as a third-party vendor with no expected customer impact. In pre-market Nasdaq trading, LightPath shares fell 2.64 percent to $11.81 following a 4.19 percent decline in the prior regular session.
LightPath Technologies IncSells China unit for $4.5M, shifting to Western manufacturing; shares fell 2.64% in pre-market.