OmniLit Acquisition Corp. signs letter of intent for business combination with optics and photonics manufacturer

SYNTEC OPTICS HOLDINGS, INC.

Signed LOI with unnamed affiliate, an advanced manufacturer of optics and photonics components and sub-systems.
Estimated Enterprise Value in range from IPO prospectus; definitive agreement subject to Special Committee review.
Target has strategy to acquire in fragmented market; end-markets include defense, biomedical, consumer, and emerging tech.
Management cites recession-resistant, stable earnings due to counter-cyclicality of end-markets.

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