SCHEDULE: AIGH Capital Management Reduces Lightpath Stake Below 5%

AIGH Capital Management LLC and Orin Hirschman report beneficial ownership of 4.8% of Lightpath Technologies Inc. common stock, indicating a reduction below the 5% threshold.

Summary

• Orin Hirschman, AIGH Capital Management LLC, and AIGH Investment Partners LLC (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G.
• The Reporting Persons beneficially own an aggregate of 2,151,484 shares of Lightpath Technologies Inc. Common Stock.
• This aggregate amount represents 4.8% of the class of Common Stock outstanding.
• The beneficially owned shares include 1,429,538 common shares issuable upon conversion of preferred shares.
• Orin Hirschman and AIGH Capital Management LLC each hold sole voting power over 721,946 shares and sole dispositive power over 2,151,484 shares.
• The event date requiring this filing was October 17, 2025.
• The Reporting Persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 4

Explanation: The reduction in beneficial ownership below the 5% threshold by a significant investor group, while not explicitly negative, could be interpreted as a decrease in conviction or a partial divestment, which is generally not a positive signal for the stock.

Future Outlook

NA

Industry Context

This filing reflects a change in a significant investor's stake in Lightpath Technologies Inc., which can influence market perception of the company's investment attractiveness relative to its peers.

Stakeholder Impact

• Shareholders: May interpret the reduction in beneficial ownership by AIGH Capital Management as a signal of reduced investor confidence or a potential shift in the investment thesis, potentially impacting stock price perception.

Key Dates

Recommendation

The filing indicates that AIGH Capital Management LLC and Orin Hirschman have reduced their beneficial ownership in Lightpath Technologies Inc. to 4.8%, falling below the 5% threshold. This reduction, while not a complete divestment, suggests a potential decrease in conviction or a re-evaluation of the investment. Investors should 'hold' to monitor future filings and company performance for clearer signals regarding the long-term outlook and the reasons behind this stake reduction.

Keywords

Lightpath Technologies Inc, LPTN, AIGH Capital Management, Orin Hirschman, Schedule 13G, Beneficial Ownership, Common Stock, Investment Management