8-K/AAcquisitions & DispositionsExhibits & Filings

KLA CORP 8-K/A Report, Acquisition Completed (Mar 11, 2019)

Filed March 11, 2019For Securities:KLAC

Summary

This Form 8-K/A filing by KLA Corp (KLAC) serves as an amendment to a previous report, primarily to include the necessary financial statements and pro forma information related to the completed acquisition of Orbotech Ltd. The acquisition, which was completed on February 20, 2019, consolidated Orbotech as an indirect wholly-owned subsidiary of KLA. Investors should note that this filing provides audited financial statements for Orbotech for the years ending December 31, 2016, 2017, and 2018, along with a pro forma condensed combined balance sheet as of December 31, 2018, and pro forma statements of operations for relevant periods. The inclusion of this financial data is crucial for understanding the financial impact and integration of Orbotech into KLA's operations. This amendment fulfills regulatory requirements and provides stakeholders with a more complete picture of the combined entity's financial position and performance following the merger. Investors are encouraged to review these newly filed financial statements to assess the accretion or dilution resulting from the acquisition and its potential impact on KLA's future earnings and balance sheet.

Key Highlights

  • 1KLA Corp (KLAC) has filed an amendment (8-K/A) to its previous 8-K to include financial disclosures related to the acquisition of Orbotech Ltd.
  • 2The acquisition of Orbotech was officially completed on February 20, 2019.
  • 3This filing incorporates Orbotech's audited consolidated financial statements for the years ended December 31, 2016, 2017, and 2018.
  • 4Unaudited pro forma condensed combined financial information, including a balance sheet as of December 31, 2018, and statements of operations for specified periods, are also included.
  • 5The financial statements and pro forma data are essential for investors to evaluate the financial impact of the Orbotech acquisition on KLA.
  • 6The filing includes the consent of Orbotech's independent accountants.

Frequently Asked Questions

The primary purpose of this amended 8-K filing is to provide the historical financial statements of Orbotech Ltd. and certain pro forma financial information required by the SEC, following KLA Corp's completion of the acquisition of Orbotech.

The acquisition of Orbotech Ltd. was completed on February 20, 2019. Following the merger, Orbotech now operates as an indirect wholly-owned subsidiary of KLA Corp.

The audited consolidated financial statements of Orbotech for the years ended December 31, 2016, 2017, and 2018, are included as Exhibit 99.1 to this 8-K/A filing.

The filing includes unaudited pro forma condensed combined financial information, such as a balance sheet as of December 31, 2018, and statements of operations for specific periods. This pro forma data is important for investors to understand how KLA and Orbotech would have performed financially as a combined entity historically, helping to assess the expected impact of the acquisition.