Lightwave Logic Raises $855,000 In Private Placement

June 26, 2009 (FinancialWire) — Lightwave Logic, Inc. (OTCBB: LWLG | Quote | Chart | News | PowerRating) (Current Market Cap: $33.03 Mil.) said it has completed private common stock offering for gross proceeds of $855,000. No commissions or fees were paid in connection with the offering, according to the company.

Newark, Delaware-based Lightwave Logic is a development stage company, moving toward prototype demonstration and commercialization of its organic polymers for applications in electro-optical device markets.

Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers.

Earlier in June, the company said it had begun building the initial prototype of a phase modulator for its “next-generation” electro-optic material platform. According to Lightwave, the platform will support new applications over the next several years for the military, aerospace, fiber optic telecommunications and optical computing market segments.

Some of the applications for the platform include high speed, long reach communication modulators, image recognition, speech recognition and supercomputer, according to the company.

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