LightPath Technologies, Inc. enters into Second Amendment to Second Amended and Restated Loan and Security Agreement On January 16, 2018, LightPath Technologies, Inc. entered into a Second Amendment to Second Amended and Restated Loan and Security Agreement relating to its previously disclosed acquisition term loan and working capital revolving line of credit pursuant to that certain Second Amended and Restated Loan and Security Agreement, dated December 21, 2016 (the “LSA”) with the Lender. Pursuant to the Second Amendment, the Lender paid a single cash advance to the Company in an original principal amount of $7,294,000 (the “Term II Loan”). The proceeds of the Term II Loan were used to repay all amounts owing with respect to the Loan, with the remainder used to repay the amounts owing under the Note. As of January 16, 2018, the Loan is deemed satisfied in full and terminated. The Term II Loan is for a five-year term. Pursuant to the Second Amendment, interest on the Term II Loan accrues starting on January 16, 2018 and both principal and interest is due and payable in sixty (60) monthly installments beginning on the tenth day of the first month following the date of the Second Amendment (or February 10, 2018), and continuing on the same day of each month thereafter for so long as the Term II Loan is outstanding. The Term II Loan bears interest at a per annum rate equal to 2.0% above the Prime Rate; provided, however, that at no time shall the applicable rate be less than 5.50% per annum. Prepayment by the Company is permitted; however, the Company must pay a prepayment fee in an amount equal to (i) 0.75% of the Excess Prepayment Amount if prepayment occurs on or prior to January 16, 2019, or (ii) 0.5% of the Excess Prepayment Amount if prepayment occurs after January 16, 2019 but on or before January 16, 2020, or (iii) 0.25% of the Excess Prepayment Amount if prepayment occurs after January 16, 2020 but on or prior to January 16, 2021, or (iv) 0.10% of the Excess Prepayment Amount if such prepayment occurs after January 16, 2021 but on or prior to January 16, 2022. For purposes of the Second Amendment, the “Excess Prepayment Amount” equals the amount of the Term II Loan being prepaid in excess of $2,850,000. The Second Amendment amends, among other items, (1) the definition of “Adjusted EBITDA” to provide additional adjustments related to (i) stock-based compensation expenses, (ii) non-cash expenses (income) related to the change of the fair value of warrant liabilities or the subordinated debt owed under the Seller Note (as defined in the LSA), (iii) foreign currency translation loss, and (iv) one-time transaction expenses in connection with the acquisition of ISP (not to exceed $50,000 for the trailing twelve month period ending in December 31, 2017) and (2) the maturity date of the Revolving Line from March 21, 2018 to December 21, 2018.