Business Context and Reporting Period
Company: Universal Display Corporation
Filing Type: Form 8-K (Current Report)
Report Date: March 30, 2006
Event Date: March 30, 2006
Context: The filing reports unregistered sales of equity securities pursuant to Section 4(2) of the Securities Act of 1933 and Rule 506.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a specific equity transaction.
Material Changes
- Equity Issuance: The company issued an aggregate of 500,238 shares of common stock upon the exercise of outstanding warrants between the last periodic report and March 30, 2006.
- Executive Participation: Of the total shares issued, 335,272 shares were issued to executive officers on March 30, 2006.
- Threshold Trigger: The aggregate number of shares issued since the last periodic report surpassed 1% of the outstanding shares of common stock.
- Warrant Details: All exercised warrants had an exercise price of $4.125 per share and were set to expire on April 25, 2006.
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on future operations, or specific risk factors beyond the disclosure of the unregistered sale of securities.
Investor Verification Checklist
- Verify the total number of outstanding shares of common stock to confirm the 1% threshold calculation.
- Confirm the expiration date of the remaining unexercised warrants (April 25, 2006).
- Review the company's last periodic report (10-K or 10-Q) to establish the baseline share count prior to this issuance.
- Check subsequent filings to determine if the warrant expiration date was extended or if additional shares were issued.