Wednesday, October 12, 2022 7:51:00 AM
5:29 pm ET October 10, 2022 (Dow Jones) Print
By Josh Beckerman
Laser Photonics Corp., discussing the performance of shares that have mostly traded below their initial public offering price, said the company's "fundamentals are solid, with strong revenue growth and profits."
The maker of laser systems for tasks including cleaning and paint removal provided an updated capitalization table. It said the management team didn't sell any shares in the IPO or in subsequent trading.
The 3 million-share IPO priced at $5 each. In the stock's Sept. 30 debut, shares peaked at $5.50 but closed at $2.58, with lower closing prices in subsequent days.
The stock was recently up 1% after hours to $1.89.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
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