Kopin Corp Amends Merger Agreement with Magnachip
Ticker: KOPN · Form: 8-K · Filed: Apr 23, 2024 · CIK: 771266
Sentiment: neutral
Topics: merger-agreement, amendment, m-and-a
TL;DR
Kopin Corp tweaked its Magnachip merger deal, details TBD.
AI Summary
On April 22, 2024, Kopin Corporation announced an amendment to its previously disclosed merger agreement with Magnachip Semiconductor Corporation. The amendment modifies certain terms of the agreement, though specific details of the changes were not provided in this filing. The original merger agreement was first announced on May 31, 2023.
Why It Matters
This amendment could impact the final terms and likelihood of Kopin's acquisition of Magnachip, potentially affecting shareholder value for both companies.
Risk Assessment
Risk Level: medium — Amendments to merger agreements can indicate potential issues or renegotiations that could affect the deal's completion or terms.
Key Players & Entities
- Kopin Corporation (company) — Registrant
- Magnachip Semiconductor Corporation (company) — Party to merger agreement
- April 22, 2024 (date) — Date of report
- May 31, 2023 (date) — Date of original merger agreement announcement
FAQ
What specific terms of the merger agreement were amended?
The filing states that certain terms of the merger agreement were modified, but does not specify which terms were changed.
When was the original merger agreement between Kopin and Magnachip first announced?
The original merger agreement was first announced on May 31, 2023.
What is the filing date for this 8-K report?
The filing date for this 8-K report is April 23, 2024.
What is Kopin Corporation's principal executive office address?
Kopin Corporation's principal executive office is located at 125 North Drive, Westborough, MA 01581.
What is the purpose of this Form 8-K filing?
This Form 8-K is filed to report an amendment to a previously disclosed merger agreement.
Filing Stats: 560 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-04-23 09:10:22
Key Financial Figures
- $0.01 K — ch registered Common Stock, par value $0.01 KOPN Nasdaq Capital Market Indicate
- $5.1 million — Radios, Inc. and awarding approximately $5.1 million in damages as well as recommending $19.
- $19.7 million — lion in damages as well as recommending $19.7 million in disgorgement and exemplary damages.
Filing Documents
- form8-k.htm (8-K) — 39KB
- ex99-1.htm (EX-99.1) — 9KB
- 0001493152-24-015651.txt ( ) — 218KB
- kopn-20240422.xsd (EX-101.SCH) — 3KB
- kopn-20240422_lab.xml (EX-101.LAB) — 33KB
- kopn-20240422_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
01
Item 8.01. Other Events and exhibits. Kopin Corporation (the "Company") issued a press release on April 23, 2024, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference in which the Company announced that on Monday, April 22, 2024, a jury verdict was entered in the U.S. District Court for the District of Colorado finding for the plaintiff, BlueRadios, Inc. and awarding approximately $5.1 million in damages as well as recommending $19.7 million in disgorgement and exemplary damages. The Court will take that recommendation under advisement and will rule on the final number after briefing on the issues in the matter of BlueRadios, Inc. v. Kopin Corporation, Inc. "We are very disappointed in the outcome and do not believe the findings were justified by the facts presented," said Michael Murray Kopin's Chief Executive Officer. "We are reviewing our options at this time, including an appeal of any judgment that is ultimately entered by the Court." (d) Exhibits See the Exhibit Index below, which is incorporated by reference herein. EXHIBIT INDEX Exhibit Description 99.1 Press Release dated April 23, 2024, entitled, "Kopin Corporation verses Blue Radios Inc.". 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KOPIN CORPORATION Dated: April 23, 2024 By: /s/ Richard A. Sneider Richard A. Sneider Treasurer and Chief Financial Officer (Principal Financial and Accounting Officer)