LightPath Technologies, Inc. - Form 8-K Filing

LightPath Technologies, Inc. has entered into an equity transfer agreement to sell 100% of its interest in LightPath (Zhenjiang) Optical Instrumentation Co., Ltd. to Hengtu Optical Technology Co., Ltd. for $4,500,000. The payment is to be made within five years, with annual minimum payments and a 4% financing interest. The agreement includes provisions for intellectual property rights, including licenses for certain trademarks and technology, and establishes a supply chain arrangement where the subsidiary will continue to supply products to LightPath post-acquisition. Post-closing, LightPath will have observer rights on the subsidiary's board and certain restrictions on the subsidiary regarding change of control and asset sales will be in place during a restricted period. The transaction is subject to customary closing conditions.