Exhibit
5.1
[LETTERHEAD
OF WINSTON & STRAWN LLP]
June 5,
2008
IPG
Photonics Corporation
50 Old
Webster Road
Oxford,
Massachusetts 01540
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Re: Registration
Statement on Form S-8
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Ladies
and Gentlemen:
We have
acted as counsel for IPG Photonics Corporation, a Delaware corporation (the
“Company”), in connection with the preparation and filing of the Company’s
registration statement on Form S-8 (the “Registration Statement”) relating to
the offer and sale of up to 400,000 shares (the “Shares”) of the Company’s
common stock, par value $0.0001 per share (“Common Stock”), issuable pursuant to
the terms and in the manner set forth in the IPG Photonics Corporation 2008
Employee Stock Purchase Plan (the “Plan”).
This
opinion letter is being furnished in accordance with the requirements of Item
601(b)(5) of Regulation S-K promulgated under the Securities Act of 1933, as
amended (the “Securities Act”).
In
rendering the opinion set forth below, we have examined and relied upon such
certificates, corporate records, agreements, instruments and other documents
that we considered necessary or appropriate as a basis for the opinion,
including (i) the Registration Statement, (ii) the Amended and Restated
Certificate of Incorporation of the Company, (iii) the Amended and Restated
By-laws of the Company and (iv) the Plan. In our examination, we have assumed
the legal capacity of all natural persons, the genuineness of all signatures,
the authenticity of all documents submitted to us as originals, the conformity
to original documents of all documents submitted to us as certified or
photostatic copies and the authenticity of the originals of such latter
documents. As to any facts material to this opinion that we did not
independently establish or verify, we have relied upon oral or written
statements and representations of officers and other representatives of the
Company and others.
Based
upon the foregoing and subject to the assumptions, qualifications and
limitations set forth herein, we are of the opinion that the Shares, when
issued, sold and delivered pursuant to the terms and in the manner set forth in
the Plan, and assuming that the Shares have been and remain duly reserved for
issuance within the limits of the Common Stock then remaining authorized but
unissued, will be validly issued, fully paid and nonassessable.
We do not
express any opinion herein concerning any law other than the General Corporation
Law of the State of Delaware (including the statutory provisions, all applicable
provisions of the Delaware Constitution and reported judicial decisions
interpreting the foregoing).
We hereby
consent to the filing of this opinion letter as Exhibit 5.1 to the Registration
Statement. In giving such consent, we do not concede that we are experts within
the meaning of the Securities Act or the rules and regulations thereunder or
that this consent is required by Section 7 of the Securities Act.
Very
truly yours,
/s/ Winston
& Strawn LLP