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. ...