Lightwave Logic and Lincoln Park Capital Enter into Second $20 Million Agreement
Lightwave Logic and Lincoln Park Capital Enter into Second $20 Million Agreement
Last update: 6/10/2013 3:52:00 PM
Lincoln Park Renews its Commitment to Stand Behind the Company with Greater Flexibility to Access Growth Capital
NEWARK, Del., June 10, 2013 /PRNewswire via COMTEX/ -- Lightwave Logic, Inc. (otcqb:LWLG), a technology company focused on the development of a Next Generation Non Linear Optical Polymer Materials Platform for applications in high speed fiber-optic data communications and optical computing, announced today that it has entered into a second $20 million purchase agreement with Lincoln Park Capital Fund, LLC ("LPC") that will provide Lightwave Logic with increased flexibility to access growth capital which should allow the Company to implement its corporate objectives, including full commercialization of its nonlinear organic polymer technology.
Tom Zelibor, Chairman and Chief Executive Officer of Lightwave Logic commented, "We are extremely pleased with the new commitment LPC has made to continue to support our Company. We have received almost seven million dollars in capital from the previous LPC agreement which we have used to build-out our laboratories; hire additional personnel for synthetic chemistry; and optical testing as well as establish a much more robust prototype device development program.
"While this does not preclude us from engaging other institutional investors it goes a long way to facilitate our efforts to commercialize our organic nonlinear polymer technology."
A more detailed description of the agreement will be set forth in the Company's Current Report on Form 8-K filed with the SEC which should be reviewed carefully.
About Lincoln Park Capital ("LPC")
Lincoln Park Capital 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, specialty financing, 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 .
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Lightwave Logic, Inc. is a development stage company that produces prototype electro-optic demonstration devices and is moving toward commercialization of its high-activity, high-stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. For more information, please visit the Company's website, .
