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Lite-On Technology Plans $11 Million Investment in DenseLight Photonics (Cayman)

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Lite-On Technology's (TPE:2301) board approved a $10.8 million strategic investment in DenseLight Photonics (Cayman).

The company will acquire 7.74 million common shares at about $1.40 per share from Brilliant Universe Group, according to a Friday Taiwan Exchange filing.

Following the transaction, Lite-On will hold 18.76 million shares, representing a 21.22% stake in DenseLight Photonics (Cayman), with a cumulative investment of $34.3 million.

The acquisition will be funded with internal resources, it said.

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