8-K
filed October 18, 2023, 7:59 PM ET
CIK 0001046995
M&A
confidence high
sentiment neutral
materiality 0.90
EMAGIN CORP: M&A transaction — Samsung Display completes acquisition of eMagin for $2.08/share, ~$218M
EMAGIN CORP
- eMagin acquired by Samsung Display for $2.08 per share in all-cash transaction valued at ~$218M.
- Shares of eMagin common stock (EMAN) ceased trading on NYSE American; delisting application to be filed.
- eMagin will continue operating as a wholly owned subsidiary under its name at Hopewell Junction, NY.
- Board changes: all prior directors replaced by Seo Young Son and Yi Joon Ahn.
- Transaction bonuses approved: $361K for CEO Sculley, $250K for CFO Koch, $305K for Dr. Ghosh.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Seo Young Son was appointed as Director at EMAGIN CORP.
- Action
- became director
- Role
- Director
Exact text from the filing
Seo Young Son and Yi Joon Ahn, directors of Merger Sub, became directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Brig. General Stephen Seay departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Yi Joon Ahn was appointed as Director at EMAGIN CORP.
- Action
- became director
- Role
- Director
Exact text from the filing
Seo Young Son and Yi Joon Ahn, directors of Merger Sub, became directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Eric Braddom departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul Cronson departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew G. Sculley departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jill J. Wittels departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ellen Richstone departed as Director at EMAGIN CORP.
- Action
- ceased to be a director
- Role
- Director
Exact text from the filing
Jill J. Wittels, Eric Braddom, Paul Cronson, Ellen Richstone, Andrew G. Sculley and Brig. General Stephen Seay each ceased to be directors of the Company
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
EMAGIN CORP: Bylaws amended and restated in connection with merger.
- Change
- bylaw amendment
Exact text from the filing
eMagin’s certificate of incorporation and bylaws were amended and restated in their entirety.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
EMAGIN CORP: Certificate of incorporation amended and restated in connection with merger.
- Change
- charter amendment
Exact text from the filing
eMagin’s certificate of incorporation and bylaws were amended and restated in their entirety.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
EMAGIN CORP: Shareholders' rights ceased upon merger; shares converted to cash.
Exact text from the filing
holders of such shares of the Company’s Common Stock ceased to have any rights as shareholders of the Company, other than the right to receive the Merger Consideration.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
EMAGIN CORP underwent a change of control involving Samsung Display Co., Ltd. for $2.08 per share in an all-cash transaction valued at approximately $218 million (closed 2023-10-18).
- Action
- change of control
- Counterparty
- Samsung Display Co., Ltd.
- Consideration
- $2.08 per share in an all-cash transaction valued at approximately $218 million
- Closing
- 2023-10-18
Exact text from the filing
of its acquisition by Samsung Display Co., Ltd. (“Samsung Display”), a subsidiary of Samsung Electronics Co., Ltd. and manufacturer and distributor of display products, for $2.08 per share in an all-cash transaction valued at approximately $218 million. “I know I speak for everyone at eMagin when I say that we are very excited to be teaming with Samsung
View on SEC.gov
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