8-K
filed July 2, 2024, 7:59 PM ET
CIK 0000719494
M&A
confidence high
sentiment neutral
materiality 0.75
Inrad Optics, Inc.: M&A transaction — Luxium Solutions completes acquisition of Inrad Optics for $1.10 per share in cash
Inrad Optics, Inc.
- Shareholders receive $1.10 per share cash; aggregate consideration ~$19 million.
- Effective July 2, 2024; Inrad Optics is now a wholly owned subsidiary of Luxium.
- Board members Jan M. Winston, William J. Foote, Dennis G. Romano, and Rick Strandlund depart.
- Company intends to delist and deregister its common stock with the SEC.
- Acquisition funded via secured credit facility; Luxium affiliate of SK Capital and Edgewater Capital.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rick Strandlund resigned as Director at Inrad Optics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Merger, at the Effective Time, the following persons are no longer serving on the Company’s board of directors: Jan M. Winston, William J. Foote, Dennis G. Romano and Rick Strandlund.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dennis G. Romano resigned as Director at Inrad Optics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Merger, at the Effective Time, the following persons are no longer serving on the Company’s board of directors: Jan M. Winston, William J. Foote, Dennis G. Romano and Rick Strandlund.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William J. Foote resigned as Director at Inrad Optics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Merger, at the Effective Time, the following persons are no longer serving on the Company’s board of directors: Jan M. Winston, William J. Foote, Dennis G. Romano and Rick Strandlund.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jan M. Winston resigned as Director at Inrad Optics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
In connection with the Merger, at the Effective Time, the following persons are no longer serving on the Company’s board of directors: Jan M. Winston, William J. Foote, Dennis G. Romano and Rick Strandlund.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Inrad Optics, Inc. completed an acquisition involving Inrad Optics, Inc. for approximately $19 million (closed 2024-07-02).
- Action
- acquisition
- Counterparty
- Inrad Optics, Inc.
- Consideration
- approximately $19 million
- Closing
- 2024-07-02
Exact text from the filing
Capital Partners, both of which are U.S.-based private equity firms. The aggregate cash consideration paid by Parent to Company stockholders in the Merger was approximately $19 million. The source of the funds for the consideration paid by Parent in the Merger was borrowings under a secured credit facility. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 4
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Inrad Optics, Inc. underwent a change of control involving Luxium Solutions, LLC for $1.10 in cash (closed 2024-07-02).
- Action
- change of control
- Counterparty
- Luxium Solutions, LLC
- Consideration
- $1.10 in cash
- Closing
- 2024-07-02
Exact text from the filing
the Company (the “Common Stock”) issued and outstanding (other than Cancelled Shares (as defined in the Merger Agreement)) was converted automatically into the right to receive $1.10 in cash, without interest (the “Merger Consideration”). In connection with the Merger Agreement, on April 8, 2024, the Company entered into a Conversion and Cancellation Agreement
View on SEC.gov
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