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.”
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.