secwatch.observer — SEC 8-K summary
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Issuer:     COHERENT CORP. (COHR)
CIK:        0000820318
Form:       8-K
Filed at:   2023-12-04T23:59:59+00:00
Accession:  0001193125-23-288416
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coherent closes $1B sale of 25% stake in silicon carbide business to DENSO and Mitsubishi Electric
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- DENSO and Mitsubishi Electric each invested $500M for a 12.5% non-controlling interest; Coherent retains 75%.
- Long-term supply agreements signed for 150mm and 200mm SiC substrates and epitaxial wafers.
- Business will fund future capex and opex from the investment; Coherent gains free cash flow flexibility.
- SiC TAM expected to grow from $3B in 2022 to $21B in 2030, representing 28% CAGR.
- Sohail Khan continues to lead the business; Coherent retains control and operation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/820318/000119312523288416/0001193125-23-288416-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/820318/000119312523288416/d613403d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-288416

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