EMAN - eMagin Stockholders Approve Acquisition by Samsung Display | Benzinga
HOPEWELL JUNCTION, N.Y., Aug. 31, 2023 (GLOBE NEWSWIRE) -- eMagin Corporation (NYSE:EMAN) ("eMagin" or the "Company"), a U.S.-based leader in the development, design, and manufacture of Active-Matrix OLED microdisplays for high-resolution, AR/VR and other near-eye imaging products, today announced that its stockholders voted to approve eMagin's pending acquisition by Samsung Display Co., Ltd. ("Samsung Display"), a subsidiary of Samsung Electronics Co., Ltd. and manufacturer and distributor of display products, at eMagin's special meeting of stockholders held earlier today.
The final voting results on the proposals voted on at the special meeting will be set forth in a Form 8-K filed by eMagin with the U.S. Securities and Exchange Commission, after certification by eMagin's inspector of elections.
As previously announced, under the terms of the merger agreement, all outstanding shares of eMagin common stock on a fully diluted basis will be acquired for $2.08 per share in cash, in a transaction valued at approximately $218 million. The transaction is currently expected to close in the second half of 2023, subject to customary closing conditions, including the receipt of regulatory approvals. Upon completion of the transaction, eMagin common stock will no longer trade on the NYSE American, and eMagin will become a private company.
About eMagin Corporation
eMagin is the leader in OLED microdisplay technology, enabling the visualization of digital information and imagery for world-class customers in the military, consumer, medical and industrial markets. The Company invents, engineers, and manufactures display technologies of the future and is the only manufacturer of OLED displays in the United States. eMagin's Direct Patterning Technology (dPd™) will transform the way the world consumes information. Since 2001, eMagin's microdisplays have been used in AR/VR, aircraft helmets, heads-up display systems, thermal scopes, night vision goggles, future weapon systems and a variety of other applications. For more information, please visit www.emagin.com.
About Samsung Display
Samsung Display is a global leader of cutting-edge display solutions. The company diversifies display applications not only for smartphones, TVs, laptops, and monitors, but also smartwatches, game consoles and automotive applications and has close partnerships with a variety of global manufacturers. Samsung Display is leading the foldable display market based on its innovative technology, enabling the world's first mass-production of OLED and Quantum Dot-OLED, and ...