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POCI News
POCI Events
Lucid Capital Offering Priced Below Last Closing Price of $4.21
The offering priced below last closing price of $4.21. Lucid Capital is acting as sole book running manager for the offering.
Precision Optics Corporation Launches Underwritten Public Offering
Precision Optics Corporation announced that it is commencing an underwritten public offering of shares of its common stock. Lucid Capital Markets is acting as the sole book-running manager for the offering.
Precision Optics reveals partnership for product development
Precision Optics Corporation announced the receipt of a product development order to design and build a next generation borescope system to be used to inspect the inside of jet engines from a large aerospace and defense company. The initial $678,000 development order was received following an extensive assessment by the customer including an onsite supplier evaluation day where POC was evaluated against three other potential supplier finalists. "We are extremely pleased to have been awarded this important order for a high-end borescope used in jet engine inspection," commented Joe Forkey, CEO of Precision Optics. "This win represents another strong validation of the growing opportunities we are seeing across the Defense and Aerospace sectors. Our ability to deliver the entire image train-from advanced optical design to precision mechanical engineering and fully integrated electronic systems-continues to differentiate us in a market that demands uncompromising performance and reliability."
Precision Optics Secures Order for Development of AR Sub-Systems
Precision Optics announced the receipt of a product development order to build sub-assemblies that will support an advanced augmented reality system for US Air Force fighter pilot training, powered by POC's next-generation optical sub-assembly design and manufacturing technologies. The program aims to allow pilots to wear AR headsets while in the air in their fighter jets, simulating combat training, without the need for secondary aircraft to be present. This reduces cost and the potential for training related accidents. The customer has been contracted by the US Air Force to deploy their solution on multiple aircraft platforms. The initial $723,000 development order is focused on leveraging POC's optical expertise to design, prototype and qualify compact optical systems with ultra-high precision optical performance.
Precision Optics expands facilities to meet growing backlog
Precision Optics announced it has made the strategic decision to move its corporate offices, including executive leadership, product development engineering, program management, human resources, business development and accounting, from Gardner, MA to Littleton, MA. The move allows for the consolidation of dedicated production capabilities at POC's existing facilities in Gardner to meet the Company's growing production backlog, which stood at an all-time high at the end of the most recent quarter. This new facility in Littleton, along with a new facility in South Portland, Maine, also allows POC access to a broader engineering talent pool to execute on the Company's ongoing product development pipeline.
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