Summary
COHERENT CORP. (COHR), formerly II-VI Incorporated, filed an 8-K on March 27, 2018, primarily to disclose a significant development: the agreement to acquire CoAdna Holdings, Inc. for approximately $85 million in cash. This acquisition is a strategic move aimed at expanding COHR's capabilities. The filing also includes investor presentation materials related to this pending acquisition, which were posted on the company's website and may be used in future investor interactions. Investors should note that these materials are intended to be viewed alongside other SEC filings and public announcements, and the company does not undertake a duty to update them unless it chooses to do so.
Key Highlights
- 1II-VI Incorporated (now COHERENT CORP.) announced its agreement to acquire CoAdna Holdings, Inc. for approximately $85 million in cash.
- 2The acquisition is structured as a merger where CoAdna will become a wholly owned subsidiary of II-VI Incorporated.
- 3The transaction is expected to close in the third quarter of 2018, subject to shareholder and regulatory approvals.
- 4The 8-K includes Exhibit 99.1, a press release dated March 26, 2018, detailing the CoAdna acquisition.
- 5Exhibit 99.2 contains investor presentation materials providing further context on the CoAdna acquisition.
- 6The company is posting these presentation materials on its website starting March 27, 2018.
- 7Information furnished under Item 7.01 and Exhibit 99.2 is not considered 'filed' under Section 18 of the Exchange Act, limiting liability.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce and provide details regarding II-VI Incorporated's (now COHERENT CORP.) agreement to acquire CoAdna Holdings, Inc. It also includes investor presentation materials that offer further information about this pending acquisition.
The acquisition of CoAdna Holdings, Inc. is valued at approximately $85 million, which will be paid in cash at closing. Investors should refer to the investor presentation materials (Exhibit 99.2) for more detailed financial context or strategic rationale behind this valuation.
The acquisition is expected to close in the third quarter of 2018. However, this is contingent upon receiving necessary approvals from CoAdna's shareholders, regulatory bodies, and meeting other customary closing conditions.
The investor presentation materials provide supplemental information regarding the CoAdna acquisition. While the company may use these materials at future investor conferences, they are also posted on the company's website for broader investor access. Investors should consider this information in conjunction with the official press release and other SEC filings.