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News / Business / Business Briefs

nLight executives, key investors sell stock shares

By The Columbian
Published: September 11, 2018, 5:41pm

Scott Keeney, co-founder, chief executive and board chairman of nLight Inc., sold 180,000 shares for $4,579,200 on Tuesday, one of seven transactions involving key shareholders with the Vancouver manufacturer of high-power semiconductor and fiber lasers, according to documents filed with the U.S. Securities and Exchange Commission.

Other nLight transactions on Tuesday, according to the SEC: nLight board member Douglas Carlisle, 1,195,119 shares, valued at $30,329,695; board member Bandel Carano; 1,109,417 shares, $28,223,568; venture capital firm Oak Investment Partners X LTD Partnership, 1,109,417 shares, $28,223,568; venture capital firm Sixth MDV Partners, LLC, 783,651 shares, $19,936,081; venture capital firm MV Management IX LLC, 1,192,205 shares, $30,329,695; and nLight chief technology officer Robert Martinsen, 12,000 shares, $305,280.

The shareholders’ sale coincided with the company announcing Tuesday the closing of its follow-on public offering of 5,175,000 shares of common stock at a price to the public of $26.50 per share. The company estimates net proceeds to nLight from the offering to be about $37.9 million.

Shares of nLight closed at $27.11 on Tuesday. The company’s share price has had a range of $22.24 to $43.63 since April 27, the day the company, founded in 2000, went public. The company had a market capitalization of nearly $944 million at market’s close Tuesday.