PALO ALTO, Calif.--(BUSINESS WIRE)--
Avidbank Corporate Finance, a Division of Avidbank that specializes in
technology and asset-based funding, has provided LightPath Technologies,
Inc. a $2,000,000 line of credit facility. The facility will be used for
working capital flexibility and equipment acquisition.
LightPath Technologies, Inc. is a leading vertically integrated global
manufacturer and distributor of proprietary optical components and
high-level assemblies. LightPath has served blue chip customers in the
industrial, defense, telecommunications, testing and measurement, and
medical industries, for over 25 years.
“I am glad we were able to put this facility in place for LightPath,”
said Avidbank Corporate Finance Executive Vice President, Mike Hansen.
“They have built a quality team with extensive experience and insight
into this marketplace. This is the type of company that exemplifies our
corporate philosophy. We appreciate the opportunity to contribute to
their continued success.”
“We are very pleased to be working with Avidbank; they quickly
understood our business, what we have accomplished and where we want to
go,” stated Jim Gaynor, President and Chief Executive Officer. “The
ability to establish this type of credit facility signals the progress
LightPath has made and the sustainability of our growing business. This
line of credit facility will provide us flexibility to meet any
potential liquidity issues as we grow our business. We are excited to
establish this partnership and are looking forward to a long-term
relationship with Avidbank.”
About Avidbank
Avidbank Holdings, Inc. (OTCBB: AVBH) is headquartered in Palo Alto,
California. Our goal at Avidbank is to advance our clients’ success by
offering innovative financial solutions and service. Our experienced
people provide a unique and individualized banking experience based on
mutual effort, ingenuity and trust, creating long-term banking
relationships. Avidbank specializes in the following markets: commercial
and industrial, corporate finance, technology and asset-based lending,
real estate construction, commercial real estate lending and real estate
bridge financing.
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and
photonics solutions for the industrial, defense, telecommunications,
testing and measurement, and medical industries. LightPath designs,
manufactures, and distributes optical and infrared components including
molded glass aspheric lenses and assemblies, infrared lenses and thermal
imaging assemblies, fused fiber collimators, and gradient index GRADIUM®
lenses. LightPath also offers custom optical assemblies, including full
engineering design support.For more information, visit www.lightpath.com.
Avidbank Holdings, Inc.
Steve Leen, 650-843-2204
Chief
Financial Officer
www.avidbank.com
Source: Avidbank Holdings, Inc.