Laser Photonics Corporation Announces Closing of $3.0 Million Private Placement Page 1

Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, today announced that it has entered into a securities purchase agreement with institutional investors for aggregate gross cash proceeds of $3.0 million, before deducting placement agent fees and other offering expenses payable by the company. The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

In connection with the private placement, the Company issued an aggregate of 1,500,000 units. Each unit consists of one share of common stock and one common warrant, each exercisable for one share of common stock at an exercise price of $4.34 per share. The common warrant is exercisable on the earlier of six months after issuance or prior shareholder approval and expires 5.5 years after issuance.