Luna and API Complete Merger
08 Maio 2015 - 2:36PM
Business Wire
Combined company has a strengthened position in
optical technology
Luna Innovations Incorporated (NASDAQ: LUNA), which develops and
manufactures fiber optic sensing and test & measurement
products for the telecommunications, aerospace, automotive, energy,
and defense markets, and Advanced Photonix, Inc. (API), a leading
supplier of optoelectronic sensors, devices, and instrumentation
for the telecommunications, defense, medical and industrial
markets, today announced that they have closed their merger. In an
annual meeting earlier today, Luna’s stockholders approved the
issuance of 0.31782 shares of Luna common stock to API stockholders
for each share of API common stock they own. API’s stockholders
approved the merger in a separate special meeting.
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a public
company composed of scientists, engineers, and business
professionals developing and manufacturing a new generation of
technologies and products. It has been successful in taking
innovative technologies from applied research to product
development and ultimately to the commercial market, driving
breakthroughs in fields such as aerospace, automotive,
telecommunications, healthcare, energy, and defense.
About API
Advanced Photonix, Inc.® is a leading supplier of optoelectronic
sensors, devices and instruments used by Test and Measurement,
Process Control, Medical, Telecommunication and Homeland Security
markets. API has three product lines: High-Speed Optical Receiver
(HSOR) products are used by the telecommunication market in both
telecommunication equipment and in test and measurement equipment
utilized in the manufacturing of telecommunication equipment. The
Terahertz sensor product line is targeted to the Process Control
(including through non-destructive testing) and Security markets.
API’s T-Gauge® sensor can measure subsurface physical properties,
like multi-layers thicknesses, density, moisture content, anomaly
detection and some chemical features, online and in real time.
Optosolutions focuses on enabling manufacturers to measure physical
properties, including temperature, particular counting, color, and
fluorescence for Medical, Homeland Security and Process Control
applications. For more information visit
www.advancedphotonix.com.
Forward Looking Statements
This release includes information that constitutes
“forward-looking statements” made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995
that involve risk and uncertainties. These statements include our
expectations regarding the prospects of the combined company and
the companies’ future growth. Management cautions the reader that
these forward-looking statements are only predictions and are
subject to a number of both known and unknown risks and
uncertainties, and actual results, performance, and/or achievements
of the companies may differ materially from the future results,
performance and/or achievements expressed or implied by these
forward-looking statements as a result of a number of factors.
These factors include, but are not limited to: the uniqueness and
advantages of Luna’s or API’s technology and intellectual property;
potential costs savings and synergies from the merger; potential
for greater profitability; potential for future commercialization
of their technologies; the competitive advantage afforded by Luna’s
or API’s technology; the potential efficacy of Luna’s or API’s
technology; and growth potential of certain markets. Statements
that describe the companies’ business strategies, goals, prospects,
opportunities, outlook, plans or intentions are also
forward-looking statements. Uncertainties regarding technical and
scientific difficulties, issues that might arise in any particular
business relationship and other risks and uncertainties are set
forth in the companies’ periodic reports and other filings with the
Securities and Exchange Commission. Such filings are available at
the SEC's website at http://www.sec.gov, and at the companies’
websites at http://www.lunainc.com and
http://www.advancedphotonix.com. The statements made in this
release are based on information available to the companies as of
the date of this release and Luna and API undertake no obligation
to update any of the forward-looking statements after the date of
this release, except as required by law.
Luna Innovations IncorporatedDale Messick,
1-540-769-8400IR@lunainc.com
Luna Innovations (NASDAQ:LUNA)
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