Laser Photonics Shareholders Approve Warrant Inducement Agreements

Laser Photonics announced that, at a special meeting of stockholders held on June 26, its stockholders approved each of the Company's previously disclosed Warrant Inducement Agreements, dated March 15 and April 26. Under the terms of the Warrant Inducement Agreements, the new Series A-5 and Series A-6 common stock purchase warrants issued to participating holders were exercisable only on or after the date the Company obtained stockholder approval, as required under applicable Nasdaq listing rules. With stockholder approval now obtained, the condition to exercise contained in the Series A-5 and Series A-6 warrants has been satisfied, and those warrants are now exercisable in accordance with their respective terms. As of the close of business on May 13, the record date for the special meeting, 38,568,263 shares of the Company's common stock, par value $0.001 per share, were outstanding and entitled to vote. Holders of 14,300,930 shares, or approximately 37.08% of the shares outstanding and entitled to vote, were represented at the meeting in person or by proxy.