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Advanced Photonix, Inc (API)

- NYSEMKT
  • Mon, Feb. 2, 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.
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Company Description
Advanced Photonix Inc is engaged in the development and manufacturing of optoelectronic devices and value-added sub-systems and systems. It has two manufacturing facilities located in Camarillo, California and Ann Arbor, Michigan.