LightPath Technologies Announces Debenture Conversion

            LightPath Technologies Announces Debenture Conversion

PR Newswire

ORLANDO, Fla., March 27, 2013

ORLANDO, Fla., March 27, 2013 /PRNewswire/ --LightPath Technologies, Inc.
(NASDAQ: LPTH) ("LightPath", the "Company" or "we"), a global manufacturer,
distributor and integrator of proprietary optical components and high-level
assemblies, today announced the conversion of its 8% Senior Secured
Convertible Debentures due August 1, 2013, as amended (each a "Debenture", and
collectively, the "Debentures").


Debenture holders holding approximately 93.10% of the outstanding principal
amount of the Debentures executed a Conversion Agreement (the "Conversion
Agreement") in connection with the early conversion of the Debentures. As an
incentive for converting the Debentures prior to the maturity date, the
Company issued additional shares of common stock. The Company issued 589,290
shares of common stock in connection with the conversion of the Debentures and
an additional 559,448 shares of common stock as an incentive to convert. Due
to certain beneficial ownership limitations, one participating Debenture
holder partially converted its Debenture and will be paid the outstanding
principal amount due under such Debenture in cash by the Company. The
remaining Debenture holder not party to the Conversion Agreement will be paid
$75,000, which represents the outstanding principal amount due under such

Jim Gaynor, President and Chief Executive Officer of LightPath, commented,
"The conversion of the Debentures is very beneficial for the Company because
it removes an overhang on our stock and frees up cash for continued investment
in our business. We appreciate this strong show of support of the Company by
these investors and thank them for their confidence in the Company and the
business plan we have presented. The purchase of these shares of common stock
represents a further investment in the Company and support of the strategic
direction of our business."

About LightPath Technologies
LightPath manufactures optical products including precision molded aspheric
optics, GRADIUM® glass products, proprietary collimator assemblies, laser
components utilizing proprietary automation technology, higher-level
assemblies and packing solutions. The Company's products are used in various
markets, including industrial, medical, defense, test and measurement and
telecommunications. LightPath has a strong patent portfolio that has been
granted or licensed to it in these fields. For more information visit

Forward-Looking Statements
This news release includes statements that constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including statements regarding our
ability to expand our presence in certain markets, future sales growth,
continuing reductions in cash usage and implementation of new distribution
channels. This information may involve risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to, factors detailed by LightPath Technologies,
Inc. in its public filings with the Securities and Exchange Commission. Except
as required under the federal securities laws and the rules and regulations of
the Securities and Exchange Commission, we do not have any intention or
obligation to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.

Jim Gaynor, President & CEO           Dorothy Cipolla, CFO
LightPath Technologies, Inc.     LightPath Technologies,
Tel: 407-382-4003 Tel: 407-382-4003 x305
Email:   Email:
Web:   Web:
Brett Maas, Managing Partner
Hayden IR
Tel: 646-536-7331

SOURCE LightPath Technologies, Inc.

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