Xperi Holding files Form 10 to spin off product business as Xperi Inc.; reveals pro forma financials

Adeia Inc.

Spin-off distributes 100% of Xperi Inc. stock to XPER holders at ratio of 4 shares for every 10 held.
Pro forma H1 2022 revenue $245M, net loss $61M; FY2021 revenue $486M, net loss $178M.
Non-GAAP adjusted EBITDA improved to $14.6M (H1 2022) from $13.8M (FY2021).
Spin-off includes $50M senior promissory note at 6.0% to finance Vewd acquisition.
Xperi Inc. will be an independent, publicly traded entity following separation.

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