M&A
confidence high
sentiment positive
materiality 0.70
Forge Nano closes all-stock acquisition of HZO, issuing ~7.3M shares
ATII Holdings Inc.
- Forge Nano completed an all-stock acquisition of HZO, issuing ~7.3M shares; ~2.2M were exchanged for HZO-held NANO shares, netting ~5.1M new shares.
- About 5.8M shares were issued at closing; ~1.5M are held back for 12 months to secure post-closing adjustments and indemnification obligations.
- HZO, based in Morrisville, NC, runs three coating facilities in the U.S., Mexico and Vietnam serving consumer electronics, energy, IoT, medical and automotive customers.
- HZO will operate as a wholly owned Forge Nano subsidiary under the HZO brand, led by President Rachael Lerebours, and its employees will join Forge Nano.
- Forge Nano expects shared manufacturing, procurement and administrative efficiencies and plans to introduce its ALD materials and equipment to HZO’s installed customer base.