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): January 6, 2016
eMagin Corporation
(Exact name of registrant as specified in its charter)
Delaware | 001-15751 | 56-1764501 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
2070 Route 52, Hopewell Junction, NY 12533
(Address of principal executive offices and Zip Code)
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 (see General Instruction A.2. below):
☐ 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))
Forward Looking Statements
This Current Report on Form 8-K (the “Report”) contains statements which constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward looking statements are based upon the Company’s present intent, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur for various reasons, including some reasons which are beyond the Company’s control. You should not place undue reliance upon the Company’s forward looking statements. Except as required by law, the Company undertakes no obligation to revise or update any forward looking statements in order to reflect any event or circumstance that may arise after the date of this Report.
Item 8.01 | Other Events. |
On January 6, 2016, the Company issued a press release announcing that it has signed a non-exclusive intellectual property licensing agreement for its immersive virtual reality headset technology. The Company’s press release is filed as Exhibit 99.1 to this Report and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
99.1 | Press Release issued January 6, 2016 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
eMagin Corporation | |||
Date: January 6, 2016 | By: | /s/ Jeffrey Lucas | |
Name: Jeffrey Lucas | |||
Title: Chief Financial Officer | |||
Index to Exhibits
99.1 | Press Release issued January 6, 2016 |
Exhibit 99.1
eMagin Inks Licensing Agreement for Immersive Headset Intellectual Property
HOPEWELL JUNCTION, NY.--(BUSINESS WIRE)— eMagin Corporation (NYSE MKT: EMAN) has signed a non-exclusive intellectual property (IP) licensing agreement for its unique 4 MegaPixel per eye immersive virtual reality headset technology with an undisclosed company. The deal includes an upfront licensing fee of $1M and a commitment to use eMagin’s 2,000 x 2,000 pixel full color displays in the company’s headsets. eMagin’s OLED microdisplays are the superior choice for the emerging Virtual Reality (VR) and Augmented Reality (AR) markets with features such as their speed (which helps prevent nausea), small size, low power consumption, high brightness and high contrast. These features make eMagin’s microdisplays a better choice than alternative liquid crystal based display technologies like LCOS or LCD.
“This licensing agreement confirms that our immersive headset technology is unique in the VR market” said Andrew G. Sculley, CEO of eMagin Corporation, “Our immersive headset has four times the resolution of alternative cellphone based VR headsets and provides a more realistic, “screen-door”- free image. This agreement also demonstrates that eMagin’s OLED microdisplays are the right choice for VR applications, giving eMagin the opportunity to jump into the market with its highest resolution microdisplay offering.”
About eMagin Corporation
A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low power consumption, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. More information about eMagin is available at www.emagin.com.
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. 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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. OLED-XL, Color OLED-XLS and True Black are trademarks of eMagin Corp. OLED-ULT is trademark pending. All other names are the products of their respective owners.
Source: eMagin Corporation
Contact at eMagin Corporation:
Jeffrey Lucas, 845-838-7900
jlucas@emagin.com
2070 Route 52
Hopewell Junction, NY 12533
P: (845) 838-7900 F: (845) 838-7901
www.eMagin.com