Avidbank Corporate Finance Provides $2,000,000 in Credit Facilities to
LightPath Technologies, Inc.
PALO ALTO, Calif. -- October 8, 2013
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
“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.”
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
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