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eMagin Stockholders Approve Acquisition by Samsung Display

The transaction for the OLED specialist is valued at approximately $218 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

eMagin Corporation, a U.S.-based leader in the development, design, and manufacture of Active-Matrix OLED microdisplays for high-resolution, AR/VR and other near-eye imaging products, announced that its stockholders voted to approve eMagin’s pending acquisition by Samsung Display Co., Ltd., a subsidiary of Samsung Electronics Co., Ltd. and manufacturer and distributor of display products, at eMagin’s special meeting of stockholders.

The final voting results on the proposals voted on at the special meeting will be set forth in a Form 8-K filed by eMagin with the U.S. Securities and Exchange Commission, after certification by eMagin’s inspector of elections.

As previously announced, under the terms of the merger agreement, all outstanding shares of eMagin common stock on a fully diluted basis will be acquired for $2.08 per share in cash, in a transaction valued at approximately $218 million.

The transaction is currently expected to close in the second half of 2023, subject to customary closing conditions, including the receipt of regulatory approvals. Upon completion of the transaction, eMagin common stock will no longer trade on the NYSE American, and eMagin will become a private company.

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