Coherent Corp. Moves to the NYSE

Rhea-AI Summary

Coherent Corp. is transferring its common stock and 6.00% Series A Mandatory Convertible Preferred Stock from Nasdaq to the New York Stock Exchange (NYSE), effective February 23, 2023. The common stock will trade under the ticker COHR, while the preferred stock will trade under IIVI. Dr. Vincent D. Mattera, Jr., the company's CEO, expressed excitement about this transition, indicating it reflects the company's transformation and growth strategy. The move aims to enhance shareholder value and aligns with Coherent's commitment to innovation and market leadership in various sectors, including materials and lasers.

Positive

• Transfer to the NYSE, a prestigious trading platform, signaling potential growth and investor confidence.
• Expected trading start date on February 23, 2023, allowing for a smooth transition for investors.

Negative

• None.

COHERENT CORP. ANNOUNCES TRANSFER OF COMMON STOCK AND SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK LISTINGS TO THE NEW YORK STOCK EXCHANGE

PITTSBURGH, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Coherent Corp. (Nasdaq: COHR) (“Coherent,” “We,” or the “Company”), a global leader in materials, networking, and lasers, today announced that it is transferring the listing of its common stock and its 6.00% Series A Mandatory Convertible Preferred Stock to the New York Stock Exchange (the “NYSE”) from The Nasdaq Stock Market LLC (“Nasdaq”).

The Company expects that its common stock and 6.00% Series A Mandatory Convertible Preferred Stock will cease trading on Nasdaq at the close of trading on Wednesday, February 22, 2023. The Company expects that its common stock and 6.00% Series A Mandatory Convertible Preferred Stock will begin trading on the NYSE on Thursday, February 23, 2023, under the ticker symbols of “COHR” and “IIVI”, respectively.

“It is exciting for us at Coherent to join the NYSE, one of the world’s most prestigious trading platforms. Our company has undergone a tremendous period of transformation, and this move is part of that,” said Dr. Vincent D. Mattera, Jr., Chair and CEO. “We look forward to a fruitful relationship as our company continues to grow and we deliver greater shareholder value, and we thank the Nasdaq for their support since our IPO in 1987.”

Forward-looking Statements

This press release contains forward-looking statements relating to future events and expectations that are based on certain assumptions and contingencies, including statements regarding the Company’s continued growth and the delivery of greater shareholder value. The forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the dates on which trading of the Company’s common stock and Series A Mandatory Convertible Preferred Stock are expected to cease on Nasdaq and commence on the NYSE. The forward-looking statements in this press release involve risks and uncertainties, which could cause actual results, performance, or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures.

The Company believes that all forward-looking statements made by it in this press release have a reasonable basis, but there can be no assurance that management’s expectations, beliefs, or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and global economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include but are not limited to: (i) the failure of any one or more of the assumptions stated herein to prove to be correct; and (ii) the risks relating to forward-looking statements and other “Risk Factors” discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022, and additional risk factors that may be identified from time to time in filings of the Company. The Company disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events or developments, or otherwise.

About Coherent

Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Headquartered in Saxonburg, Pennsylvania, Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.

Contact

Mary Jane Raymond
Treasurer and Chief Financial Officer
investor.relations@coherent.com
coherent.com/company/investor-relations

FAQ

When will Coherent's stock start trading on the NYSE?

Coherent's common stock will begin trading on the NYSE on February 23, 2023.

What is the ticker symbol for Coherent on the NYSE?

On the NYSE, Coherent will trade under the ticker symbol 'COHR'.

Why is Coherent transferring from Nasdaq to the NYSE?

Coherent is transferring to enhance shareholder value and as part of its ongoing transformation.

What will happen to Coherent’s trading on Nasdaq?

Coherent's common stock and preferred stock will cease trading on Nasdaq at the close on February 22, 2023.