Syntec Optics completed its business combination with OmniLit Acquisition.
Syntec’s stock and warrants began trading today on the Nasdaq under the symbols OPTX and OPTXW.
Rochester, NY-based Syntec is an optics and photonics company for scientific and technical instruments, and aerospace and defense. OmniLit’s CEO and Chairman Al Kapoor formed Syntec in 1997.
Announced in May, terms called for Syntec investors to receive 31.6 million shares. The aggregate merger consideration was $325 million minus net debt.
OmniLit said it would issue up to 2 million shares in a performance-based-earnout to members of the management team of the merged corporation from time to time. Read more.
