Advanced Photonix, IncNYSEMKT
Feb. 2, 2015, 10:24 AM
- Optoelectronic sensor and test/measurement hardware vendor Advanced Photonix (API +34.5%) is merging with fiber optic sensing and test/measurement equipment firm Luna Innovations (LUNA +0.5%) in an all-stock deal.
- API shareholders will receive 0.32 Luna shares for each API share they own. Between them, the companies possess 200+ patents and patent applications, and had revenue of $49.9M for the 12 months ending Sep. 30.
- The combined company will keep Luna's name, and be headquartered in Roanoke, VA. Luna chief My E. Chung will be its CEO.