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31 May 2007


QPC raises a further $9.5m in financing

QPC Lasers Inc of Sylmar, CA, USA, which develops and commercializes high-power semiconductor lasers for the industrial, defense, and medical markets, has closed an additional round of private financing through the sale of $10.6m in principal amount of convertible debentures and warrants (the second of two rounds this quarter). Gross proceeds are $9.5m. Cash proceeds will be used for expanded marketing, operations, and general corporate purposes.

“As we continue to execute our growth plan, we believe this financing will provide sufficient cash to support the increased manufacturing and inventory needs that coincide with the ramp in sales orders we have experienced, as well as support the launch of our generation-three lasers due out later this year,” says George Lintz, executive vice chairman and chief financial officer.

“Inclusive of the financing we completed in April, we have raised a total of $16.9m in the second quarter, and are confident the company now has adequate cash to support our growth and operations for at least the next 12 months,” he adds.

See related items:

QPC quadruples revenue on transition to production

QPC Lasers awarded Navy contracts; closes private financing

QPC tripled revenue in 2006; BrightLase orders boosted to $2m