Advanced Photonix, Inc. (NYSE MKT: API) is a leading
supplier of optoelectronic sensors, devices and instruments used by original
equipment manufacturers in vital markets around the globe. The company offers
three innovative product lines designed to meet the needs of clients across a
collection of industries. The Optosolutions line enables the measurement of
physical color, including temperature, particular counting, color and
fluorescence, for medical and process control applications. API’s high-speed optical
receiver (HSOR) products are most commonly used by the telecommunications
market in the manufacture of market-specific equipment. The terahertz sensor
product line provides nondestructive testing and measurement of subsurface
physical properties for the industrial process control market.
In February, API announced an agreement with Luna
Innovations, Inc. (NASDAQ: LUNA) to merge the two companies. Founded in 1990,
Luna researches, develops and commercializes innovative technologies that drive
breakthroughs in a diverse collection of markets – including aerospace,
automotive, energy, defense, healthcare and telecommunications.
The combined company, which will maintain the Luna name, is
expected to provide a broader market base and a strong balance sheet, along
with an opportunity to capitalize on potential operating synergies. When
completed, the merger situated the company in a fundamentally improved position
to realize financial growth through the utilization of a combined intellectual
property portfolio featuring over 200 patents and patent application.
“This merger has created a company with a stronger position
as a leader in optical technology and provides improved opportunities for
accelerated growth,” My Chung, president and chief executive officer of Luna,
stated in a news release. “We look forward to working with the talented team at
API as we build a dynamic company with even greater potential.”
At the closing of the merger, API stockholders received
shares of Luna common stock at a ratio of 0.31782 shares for each owned share
of API common stock. According to a Luna news release, the merger received
overwhelmingly positive response from shareholders of both companies. For
prospective investors, the broadened industry presence of the combined company
could provide a platform upon which to realize strong returns moving forward.
Look for API and Luna to leverage their combined strengths in order to promote
sustainable market growth in the years to come.
For more information, visit www.advancedphotonix.com or
www.lunainc.com
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
