OmniLit Acquisition Corp.
OLITW
NASDAQ Global Market0.08
USD
+0.02
- -
CIK
0001866816
CUSIP
68218C116
Return %
Stock
S&P500
1Y
217.46
26.84
3Y
-72.41
77.03
5Y
-72.41
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1111 Lincoln Road Miami Beach FL United States of America 33139
- CIK
- 0001866816
- Similar Companies
- Business
- OmniLit Acquisition Corp. is a special purpose acquisition company (SPAC) focused on the advanced manufacturing sector, specifically targeting businesses in optics and photonics. The company primarily aims to effect mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with firms engaged in manufacturing optics and photonics products. Its core business strategy revolves around creating a scalable U.S.-based platform for optics and photonics manufacturing, leveraging next-generation technologies with unique research and development capabilities. Key product and service categories include advanced optics and photonics components and systems used in defense, medical, consumer electronics, and space applications. Founded in 2021 and headquartered in Miami Beach, Florida, OmniLit was initially formed to provide growth capital and liquidity to optics and photonics companies by utilizing the expertise and industry connections of its management team. This team, led by CEO and Chairman Al Kapoor, who also founded Syntec Optics, leverages its deep industry experience to identify and support promising companies within the optics ecosystem. A significant recent development is OmniLit Acquisition Corp.'s reverse merger with Syntec Optics, completed in November 2023. Syntec Optics, based in Rochester, New York, is the largest independent custom manufacturer of polymer optics in the United States, supplying precision optical components such as lenses and optical equipment primarily for the defense, medical, and consumer sectors. This merger has expanded OmniLit's operations notably, adding high-value products including optics for Low Earth Orbit satellites and lightweight night vision goggles to its portfolio. The transaction was valued at approximately $890 million and marks a strategic shift from a SPAC to an operating company with direct manufacturing capabilities and product innovation in advanced optics and photonics solutions.