UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported):   June 11, 2020

 

 

eMagin Corporation

(Exact name of registrant as specified in charter)

 

 



 

 

 

 

Delaware

 

001-15751

 

56-1764501

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)



700 South Drive, Suite 201
Hopewell Junction, NY 12533

(Address of principal executive office)

 

Registrant’s telephone number, including area code (845) 838-7900



 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 Securities registered pursuant to Section 12(b) of the Act:





 

 

 

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, $.001 Par Value Per Share

 

EMAN

 

NYSE American



Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the

Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



☐ Emerging growth company



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 



Item 1.01   Entry into a Material Definitive Agreement.



On June 11, 2020, eMagin Corporation issued a press release announcing a $5.5 million award from the Department of Defense Industrial Base Analysis and Sustainment program for Organic Light Emitting Diode (OLED) Supply Chain Assurance. These funds are for procurement and installation of capital equipment in eMagin’s NY-based manufacturing facility. A copy of the press release is furnished with this report as Exhibit 99.1.



The information in this Current Report on Form 8-K, including the attached exhibit, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be set forth by specific reference in such filing.



Item 9.01   Financial Statements and Exhibits.



(d)   Exhibits





 

 

Exhibit Number

 

Description

99.1

 

Press Release issued by eMagin Corporation dated June 11, 2020.

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 



 

 

 

EMAGIN CORPORATION

 

 

 

Date: June 11, 2020

By:

/s/ Mark A. Koch

 

 

Name: Mark A. Koch



 

Title: Acting Chief Financial Officer



 







































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PICTURE 1

 

Exhibit 99.1

 

eMagin Corporation Announces $5.5 million Department of Defense Award

Award will improve eMagin’s OLED microdisplay manufacturing capabilities



HOPEWELL JUNCTION, N.Y. – June 11, 2020 – eMagin Corporation, or the “Company”, (NYSE American: EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays used in military and commercial AR/VR devices, and other near-eye imaging products, today announced it has been awarded $5.5 million under the Industrial Base Analysis and Sustainment (IBAS) Program for Organic Light Emitting Diode (OLED) Supply Chain Assurance. These funds are for procurement and installation of capital equipment in eMagin’s NY-based manufacturing facility, which we believe will enhance our manufacturing capabilities.



This IBAS award will be managed under the Cornerstone Other Transaction Authority (Cornerstone OTA) and fully funds Phase I of a three-phase agreement. The IBAS Cornerstone OTA was created to focus on strengthening the U.S. Manufacturing and Defense Industrial Base. eMagin’s OLED microdisplays are used, or designed in, many current and future defense Programs of Record including a broad range of PEO Soldier programs, F-35 HMDS, and other aviation helmet programs.



The capital funding provided during Phase I will be used to procure key equipment and tooling, which the Company believes will improve all aspects of eMagin’s OLED microdisplay production, including increased throughput and capacity. The IBAS agreement indicates additional awards through Phases II and III. Provided that funding becomes available, these later phases would enable eMagin to procure and install equipment designed to increase the production capability of products based on eMagin’s advanced dPdTM technology.



Andrew Sculley, CEO, said, “We are very pleased to be recognized by the Department of Defense as the only domestic producer of OLED microdisplays designated as a cornerstone of the U.S. manufacturing base. We view this as a recognition of the value of our OLED microdisplays in defense programs and an endorsement in what we believe to be our superior OLED technology.”



About eMagin Corporation



The Leader in OLED microdisplay technology for the next generation of computing and imaging devices, serving world-class customers in the military and consumer, medical and industrial markets. We invent, engineer and manufacture display technologies of the future in the USA, including our Direct Patterning Technology (dPd) that will transform the way the world consumes information. Since 2001, our microdisplays have been, and continue to be, used in AR/VR, aircraft helmets, heads-up display systems, thermal scopes, night vision goggles, future weapon systems and a variety of other applications. www.emagin.com



Important Cautionary Information Regarding Forward-Looking Statements



This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation’s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance including the possible receipt of additional funds from the US Government. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company’s most recent filings with the SEC. For a more complete description of the risks factors that could cause our actual results to differ from our current expectations, including impacts of the COVID-19 pandemic, please see the section entitled “Risk Factors” in eMagin’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in any Form 10-Q filed or to be filed by eMagin, and in other documents we file with the SEC from time to time.



CONTACT



eMagin Corporation

Mark A. Koch, Acting Chief Financial Officer

845-838-7951

mkoch@emagin.com

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PICTURE 1

 

Exhibit 99.1

 

Affinity Growth Advisors

Betsy Brod

212-661-2231

betsy.brod@affinitygrowth.com

















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