real-time news and commentary for investors
Wednesday, Aug 21
UniPixel higher after Kodak bankruptcy plan approved
- UniPixel (UNXL +5.2%) is catching a bid after touch sensor manufacturing partner Kodak has its restructuring plan approved by a U.S. bankruptcy court.
- Kodak is planning to sell $406M in stock to finance its efforts to emerge from Chap. 11 as a streamlined provider of commercial printing/imaging and touch sensor solutions.
- UniPixel announced a partnership with Kodak in April, through which Kodak will produce touch sensors leveraging UniPixel's UniBoss film. Equipment installation started in Q2.
- Williams Capital is a fan of the deal; Citron Research isn't.
- Though still well above last fall's levels, shares are down 61% from an April high of $41.42.