PALO ALTO, Calif., April 27, 2026 (GLOBE NEWSWIRE) — Palomino Laboratories Inc. (OTCQB: PALX) (the “Company”), an optical data communications technology company developing a way to move data faster and more efficiently using light from GaN-based MicroLEDs instead of traditional copper wires, is pleased to announce that it has raised $15,095,412 in a private placement offering. In the offering, the Company sold 3,773,853 shares of its common stock at a purchase price of $4.00 per share.
This milestone represents a critical step in the Company’s mission to revolutionize AI data center interconnectivity through cutting-edge optical solutions that drastically reduce energy consumption and enhance data transmission density.
“We are pleased to announce the successful closing of our $15 million equity financing, which reflects strong investor confidence in Palomino’s technology and long-term vision,” said Jeffrey B. Shealy, Co-founder & CEO of the Company. “This capital positions Palomino Laboratories Inc. to accelerate commercialization and scale its MicroLED-based optical interconnect solutions for next-generation AI and data infrastructure.”
The Company is committed to advancing its differentiated GaN MicroLED photonic platform that will offer superior speed, energy efficiency, and packaging innovations ideal for AI data centers and other mission-critical applications. The Company’s technology roadmap aligns closely with national semiconductor priorities such as the CHIPS/NIST initiatives, aiming to secure onshore manufacturing and strengthen ties with federal programs.
About Palomino Laboratories Inc.
Palomino is an optical data communications company pioneering high-speed, energy-efficient data transfer using tiny light beams, including Gallium Nitride (GaN) MicroLED devices. Our innovation targets power-hungry systems such as AI servers, cloud computing, and supercomputers, offering a transformative alternative to traditional copper wiring.
For more information, please visit www.palominolabs.ai.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as “expects,” “anticipates,” “intends,” “plans,” “could,” “believes,” “estimates” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the factors listed under “Risk Factors” in the Company’s filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For further information
Palomino Laboratories Inc.
Jeffrey B. Shealy, CEO
Email: IR@palominolabs.ai
Phone: (704) 756-2981
