Lightwave Logic Inc (LWLG)

[SteveSchiets]

Lightwave Logic, Inc. Secures $20MM Common Stock Purchase Agreement with Longstanding Investor Lincoln Park Capital Fund, LLC.

LONGMONT, Colo., Feb. 1, 2016 /PRNewswire/ -- Lightwave Logic, Inc. (OTCQB: LWLG) (Lightwave"), a technology company focused on the development of Next Generation Photonic Devices and Non-Linear Optical Polymer Materials Systems for applications in high speed fiber-optic data communications and optical computing, announced today that it has secured a new $20 million purchase agreement ("Agreement") with Lincoln Park Capital Fund, LLC ("LPC"), a Chicago based institutional investor.

Under the agreement and at Lightwave Logic's sole discretion, LPC has committed to invest up to $20 million in Lightwave Logic's common stock over a 36-month period. In connection with entering into the new Agreement the Company terminated its previous June 2013 LPC purchase agreement as the new Agreement affords more flexibility for the Company.

"We are extremely pleased to receive this new commitment from our longstanding investor, LPC, to provide a continuing source of growth capital which we can access at our discretion," stated Tom Zelibor, CEO of Lightwave. "This, in conjunction with the capital we raised through our recent private placement, in which LPC was the largest single investor, puts the Company in a stronger position financially. We appreciate the support of both our private investors and LPC and believe our balance sheet is strong with $3.7 million of cash as of January 27, 2016."

A more detailed description of the agreement is set forth in the Company's Current Report on Form 8-K recently filed with the SEC which the Company encourages be reviewed carefully.

About Lincoln Park Capital

LPC is an institutional investor headquartered in Chicago, Illinois. LPC's experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, energy and technology. LPC's investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.LincolnParkCapital.com.

For more information about Lightwave Logic, please visit the Company's website at following URL: http://www.lightwavelogic.com