Lightwave Logic, Inc. announced that it expects to receive $25 million in funding from Lincoln Park Capital
January 20, 2019
Share
Lightwave Logic, Inc. (OTCPK:LWLG) announced that it has entered into a purchase agreement for equity line of credit of common shares for gross proceeds of up to $25,000,000 with Lincoln Park Capital Fund, LLC, a fund managed by Lincoln Park Capital on January 21, 2019. The purchase price will be the lower of the lowest sale price on the applicable purchase date and the arithmetic average of the three lowest closing sale prices for the common stock during the twelve consecutive business days ending on the business day immediately preceding such purchase date. The funding will be received over a 36-month period to sell common shares to investor in amounts up to 125,000 common shares per regular sale, which may be increased to up to 150,000 common shares, provided that the closing sale price of the common shares is not below $1 on the purchase date, and the purchase may be increased to up to 200,000 common shares, provided that the closing sale price of the common share is not below $1.50 on the purchase date. In addition to purchases and subject to the terms and conditions of the agreement, the company in its sole discretion may direct investor on each purchase date to make accelerated purchases on the following business day as provided in agreement. There are no upper limits on the per share price Lincoln Park Capital Fund, LLC may pay to purchase its common stock, however the company may not sell more than $500,000 in common shares to the investor per regular purchase. In consideration for entering into the agreement, the company issued to 350,000 common shares to investor as a commitment fee and shall issue up to 812,500 shares pro rata. The agreement may be terminated by the company at any time at its discretion without any cost.
Lightwave Logic, Inc. is a technology company, which commercializes electro-optic photonic devices made on its P2IC technology platform. The Company has detailed its P2IC technology platform as Polymer Stack, Polymer Plus and Polymer Slot. Its polymer technology platform uses in-house organic polymers. Electro-optical devices convert data from electric signals into optical signals for multiple applications. The Company is focused on testing and demonstrating the simplicity of manufacturability and reliability of its devices, including in conjunction with the silicon photonics manufacturing ecosystem. Its first product, Ridge Waveguide Modulator, is a type of modulator where the waveguide is fabricated within a layer of its electro-optic polymer system. Various cladding materials and electrodes are layered over the core polymer. The polymer materials are then part of an integrated photonics platform that can house other photonic devices, such as lasers, waveguides and others.
LIGHTWAVE LOGIC, INC. 
