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ProPhotonix Limited announces the completion of its acquisition by Exaktera, effectuated after a Special Shareholders Meeting on December 15, 2021. Shareholders approved the merger agreement, allowing Exaktera to acquire all shares for approximately $11.6 million (or $0.117 per share). Following this, the company’s common stock will cease trading on the AIM market at 7 am on December 17, 2021. Payments to stockholders for the acquisition will start on the same day, and those holding shares through brokerage accounts will have their accounts credited automatically within five business days.
ProPhotonix Limited (STKR) announced a Special Shareholder Meeting scheduled for December 15, 2021, to approve its acquisition by Exaktera, LLC and the subsequent cancellation of its common stock from trading on AIM. Stockholders of record as of November 11, 2021, will be eligible to vote. Key dates include the execution of the merger agreement on November 10 and the last day for lodging proxy forms on December 13. The last dealing in common stock on AIM will occur on December 16, 2021. Stockholders will commence receiving payment for the acquisition price starting December 16.
ProPhotonix Limited has announced a recommended acquisition by Exaktera, LLC valued at approximately $11.6 million ($0.117 per share), pending stockholder approval at a meeting on December 15, 2021. The acquisition represents a premium of 54.6% over the thirty-day average closing price. The ProPhotonix board unanimously endorses the deal, which includes plans for the company's shares to be delisted from AIM following completion. Tim Losik, CEO, will receive a $300,000 performance bonus upon closure, with the board asserting the transaction is in the best interest of stockholders.
ProPhotonix Limited has launched its new COBRA HyperSpec SWIR LED line light, enhancing its range of configurable LED illumination solutions. This product operates effectively in the short wavelength infrared (SWIR) spectrum from 950nm to 1750nm, catering to industries such as textile recycling and food quality control. The technology enables high-resolution imaging of materials invisible to the naked eye, critical for meeting EU recycling mandates and improving food safety. The COBRA HyperSpec allows precise customization for optimum performance in various applications.
ProPhotonix Limited, a leader in LED systems, has introduced the COBRA Cure FX4, a new UV LED lamp optimized for various printing applications. This compact lamp supports small to large format digital printers, offering high intensity of up to 14 W/cm2 and energy densities of 58 mJ/cm2. Designed with improved airflow and integration options, the FX4 aims to enhance installation and operational efficiency. Its environmentally safe technology replaces traditional mercury-based systems, promising longer lifespans and lower costs.
ProPhotonix Limited (OTC PINK:STKR) announced its unaudited results for the first half of 2021, reporting a revenue of $7.9 million, a 14% increase from $6.9 million in H1 2020. Gross profit was $3.3 million with a margin decline to 42.2%. Operating profit doubled to $0.6 million, while net income rose to $0.5 million. Cash reserves improved to $3.0 million. Order bookings reached $9.5 million, and backlog increased to $7.1 million. However, supply chain risks persist due to component shortages.
ProPhotonix Limited has expanded its UVC LED product range with the addition of new wavelengths: 265nm, 275nm, 285nm, and 310nm. This enhancement to the COBRA Clean FX1 series enables better testing and development of disinfection systems for air, water, and surfaces. UVC LEDs offer a germicidal effect against pathogens, including E. coli and Covid-19, while being ozone and heavy metal-free. The innovation is positioned as a safer, more sustainable alternative, driven by increasing demand for effective disinfection solutions post-Covid-19.
ProPhotonix Limited (STKR) announced its 2020 financial results, revealing a revenue decline to $13.6 million from $15.0 million in 2019. Operating income fell to $0.6 million, influenced by a stock option compensation charge compared to a benefit in the previous year. Despite these challenges, the company benefited from government wage subsidies, contributing $0.5 million to income. Cash reserves improved to $2.6 million, with cash generated from operations amounting to $2.1 million. Key metrics indicated a book-to-bill ratio of 0.99 and a diversification in revenue sources.
ProPhotonix Limited has launched the COBRA Clean FX1, a 265nm UVC LED lamp designed for rapid disinfection of water, air, and surfaces. This patent-protected lamp delivers a peak irradiance of 55 mW/cm² and peak energy density of 65 mJ/cm². Certified by CE and UL, it presents a sustainable alternative to traditional mercury lamps. The company aims to partner for technology commercialization following the Minamata Convention's push against mercury use. CEO Tim Losik emphasizes reliable UVC LED adoption to combat pathogens like E. coli and COVID-19.
ProPhotonix Limited, a designer of LED illumination systems and laser diode modules, has announced its 2020 Notice of Annual General Meeting (AGM), which has been posted to stockholders as of October 9, 2020. The AGM is scheduled for November 9, 2020, at 10:00 AM Eastern Time in Salem, NH. Stockholders of record as of September 30, 2020, are eligible to vote. Due to COVID-19, in-person attendance is discouraged, and stockholders are urged to vote remotely via various options provided on the proxy card. More details are available on the company’s website.
