Date: Jan 03, 2013 Author: Erik Siemers Source: bizjournal
Vancouver, Wash.-based nLight Photonics Corp. has raised $3 million, according to a securities filing made public this week, and it appears the round is related to an upcoming acquisition announcement.
The company, a maker of semiconductor-based lasers, has already raised more than $110 million spread across five prior rounds, the latest being a $17.5 million Series E announced in August 2011.
The most recent round, made public in a Securities & Exchange Commission filing Wednesday, said the latest $3 million is part of a total $3.8 million offering that includes "shares issued to former creditors of the company being acquired by" nLight. The acquired company is not disclosed in the filing.
The amount remaining to be sold — $836,312 — represents shares that may be issued "upon achievement of certain milestones," the filing states.
A spokeswoman for nLight said the company would make a public announcement next week and that company officials would withhold comment until then.
At the time of the last funding round in 2011, nLight CEO said the company had averaged between 20 percent and 50 percent growth per year. He talked of a potential initial public offering in the company's short-term future.
The company ranked No, 2,490 on Inc. Magazine's annual list of the nation's 5,000 fastest-growing private companies. According to its Inc. profile, nLight recorded $62.6 million in revenue in 2011 and employed 425 people.
