Avidbank Specialty Finance, a division of Avbidbank that specializes in technology and asset-based lending, provided LightPath Technologies with a $5 million acquisition term loan in addition to renewing an existing line of credit. The new loan will support LightPath’s acquisition of ISP Optics.

Jim Gaynor, president and CEO of LightPath, said, “We are excited to have consummated the acquisition of ISP Optics as planned and welcome ISP employees to the expanding global LightPath team. This transformative acquisition was made possible through a fully subscribed underwritten public offering of common stock along with a term loan through Avidbank. We appreciate the great working relationship we have with Avidbank and the confidence they have given to LightPath as we grow our company. The combination of LightPath and ISP positions us for continued growth with greater scale and scope to offer a comprehensive platform of visible and infrared solutions.”

Orlando, FL-based LightPath designs, manufactures and distributes optical and infrared components and sub-systems as well as custom optical assemblies.