Major Investor North Run Sells $51.3M in Shares, Reduces Stake to 9.6%
LPTH has more than doubled off its 52-week low of $2.75.
Summary
Major investor North Run Strategic Opportunities Fund I, LP reported selling over $51 million in LightPath Technologies shares, including a large secondary offering, reducing its stake to 9.6%.
Key Events · Ownership and Investor Activity · LPTH
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Significant Stake Reduction
North Run Strategic Opportunities Fund I, LP (NR-SOF) now beneficially owns 6,717,376 shares, representing approximately 9.6% of the company's outstanding stock, down from a higher percentage.
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$47.7 Million Secondary Offering
NR-SOF sold 3,571,400 shares at $14.00 per share in a registered secondary offering on June 3, 2026, generating net proceeds of $47,749,618 for the fund. This was part of the recently announced $100M offering where the company also raised capital.
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Additional Open Market Sales
The fund also reported additional open market sales totaling over $3.5 million between May 12-14, 2026, at weighted average prices ranging from $12.16 to $12.29 per share.
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Preferred Stock Conversion
Prior to the secondary offering, NR-SOF converted 7,678.51 shares of Series G Preferred Stock into 3,571,400 common shares at a conversion price of $2.15 per share on June 2, 2026, which were then sold in the secondary offering.
Analysis · LPTH · Manufacturing
North Run Strategic Opportunities Fund I, LP, a significant institutional investor and director, has substantially reduced its stake in LightPath Technologies through a series of open market sales and a secondary offering. This filing details the sale of over $51 million worth of shares, including 3.57 million shares in a recent secondary offering, bringing their beneficial ownership down to 9.6%. This marks a continued pattern of distribution from this major shareholder.
At the time of this filing, LPTH was trading at $17.60 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $2.75 to $18.94. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.