Business Context and Reporting Period
Company: Universal Display Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: May 17, 2007
Event: Entry into a material definitive agreement for an underwritten public offering of common stock.
Key Financial Metrics and Transaction Details
This filing reports a specific capital raising transaction rather than periodic financial performance metrics (e.g., revenue, profit, or cash flow). The filing text does not provide a clear value for operating results, margins, debt levels, or liquidity ratios.
| Transaction Detail | Value |
|---|---|
| Shares Issued | 2,800,000 |
| Price to Underwriter | $13.63 per share |
| Public Offering Price | $14.50 per share |
| Underwriter | Needham & Company LLC |
| Expected Delivery Date | May 22, 2007 |
Material Changes
The primary material change is the execution of an underwriting agreement to issue 2,800,000 shares of common stock. This transaction is expected to increase the company's equity capital upon closing. No other material changes to operations or financial position are detailed in this specific filing.
Guidance, Outlook, and Risks
Management Commentary: The company announced the pricing of the offering via a press release (Exhibit 99.1). The offering was conducted under a shelf registration statement (Form S-3) filed in 2004.
Risks and Contingencies: The Underwriting Agreement contains customary representations, warranties, covenants, conditions to closing, and indemnification provisions. The filing does not explicitly list new risks or contingencies beyond the standard terms of the underwriting agreement.
Investor Verification Checklist
- Verify the final closing date and actual proceeds received after the May 22, 2007 delivery date.
- Review the full Underwriting Agreement (Exhibit 1.1) for specific covenants and indemnification terms.
- Confirm the impact of the 2,800,000 new shares on existing shareholder dilution.
- Check subsequent filings for the use of proceeds from this offering.