Laser Photonics (LASE) said Tuesday that it will transition to an operational holding company called "LASE Holdings," with fully owned subsidiaries.
The company said following its acquisition of Control Micro Systems, it is reorganizing into market-focused divisions as part of a strategy to diversify and target high-growth sectors.
This transition, expected to be completed in Q1 of 2025, won't have any effect on existing shareholders, the company said.
The new LASE Holdings will include subsidiaries like Laser Photonics, CMS Laser, Control Micro Systems, LP Semiconductor, 3D AXS, and LP Media Group. The company's headquarters will be in Lake Mary, Florida, it added.
Shares of the company were up 3.1% in recent trading.
Price: 6.10, Change: +0.19, Percent Change: +3.13
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