Precision Optics Acquires Lighthouse Imaging Assets for $2.855M Cash, $1.5M Earn-Out, and 2.5M Shares

PRECISION OPTICS CORPORATION, INC.

Closed acquisition of Lighthouse Imaging assets for $2.855M cash (adjusted from $3.25M) plus up to $1.5M earn-out and 2.5M unregistered shares.
Financed with $2.6M term loan from Main Street Bank at Prime+1.5% (floor 4.75%) and $1.5M private placement of 937,500 shares at $1.60/share.
Appointed Peter V. Anania as Class II director for three-year term; he is President of Anania & Associates.
Sellers granted five-year non-compete and non-solicitation; acquisition effective October 4, 2021.

item 1.01 item 2.01 item 3.02 item 5.02 item 9.01

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Appointed

Peter V. Anania

Class II Director

POCI · PRECISION OPTICS CORPORATION, INC.

Effective: 2021-10-06
Filed: October 8, 2021, 7:59 PM ET

On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Peter V. Anania was appointed as Class II Director at PRECISION OPTICS CORPORATION, INC..

Action: appointed
Role: Class II Director

Exact text from the filing

On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified.

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PRECISION OPTICS CORPORATION, INC. filing history →

Source: SEC EDGAR

accession 0001683168-21-004762

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