ANN ARBOR, Mich., March 5, 2015 /PRNewswire/ -- Advanced
Photonix® and Luna Innovations Incorporated jointly
announced an update as to the timing of their planned merger. As
previously disclosed, the closing of the proposed merger is subject
to the satisfaction or waiver of a number of customary closing
conditions, including, among others, the effectiveness of a Form
S-4 registration statement filed by Luna with the SEC and the
approval of certain matters related to the merger by each company's
stockholders. In February, Luna filed a Form S-4 registration
statement with the Securities and Exchange Commission with respect
to the proposed merger. However, that registration statement is not
yet effective, and the companies have yet to finalize the dates of
their respective stockholders meetings. Luna expects to file an
amendment to the Form S-4 in March
2015, and following the effectiveness of the Form S-4, Luna
and Advanced Photonix will mail the joint proxy
statement/prospectus included in the Form S-4 to their stockholders
for consideration at their respective stockholder meetings.
Although the companies have not yet formally determined the dates
of their stockholder meetings, the companies currently expect to
hold their meetings, and close the merger, in May 2015.
About Advanced Photonix, Inc.
Advanced Photonix, Inc.® (NYSE MKT: API) is a leading
supplier of optoelectronic sensors, devices and instruments used by
Test and Measurement, Process Control, Medical, Telecommunication
and Defense markets. API has three product lines: High-Speed
Optical Receiver (HSOR) products are used by the telecommunication
market in both telecommunication equipment and in test and
measurement equipment utilized in the manufacturing of
telecommunication equipment. Optosolutions focuses on enabling
manufacturers to measure physical properties, including
temperature, particular counting, color, and fluorescence for
Medical and Process Control applications. The Terahertz sensor
product line is targeted at the industrial Process Control and
quality control markets through nondestructive testing and can
measure subsurface physical properties, like multi-layers
thicknesses, density, moisture content, anomaly detection and some
chemical features, online and in real time. For more information
visit www.advancedphotonix.com.
About Luna
Luna Innovations Incorporated (NASDAQ:
LUNA) (www.lunainc.com) is a public company composed of
scientists, engineers, and business professionals developing and
manufacturing a new generation of technologies and products. It has
been successful in taking innovative technologies from applied
research to product development and ultimately to the commercial
market, driving breakthroughs in fields such as aerospace,
automotive, telecommunications, healthcare, energy, and
defense.
Forward Looking Statements
This release includes information that constitutes
"forward-looking statements" made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995
that involve risk and uncertainties. These statements include our
expectations regarding the completion of the merger, the prospects
of the combined company and the companies' future growth.
Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both
known and unknown risks and uncertainties, and actual results,
performance, and/or achievements of the companies may differ
materially from the future results, performance and/or achievements
expressed or implied by these forward-looking statements as a
result of a number of factors. These factors include, but are not
limited to: the approval of the merger and related matters by the
companies' respective stockholders and satisfaction of other
closing conditions of the merger; the uniqueness and advantages of
API's or Luna's technology and intellectual property; potential
costs savings and synergies from the merger; potential for
profitability; potential for future commercialization of their
technologies; the competitive advantage afforded by API's or Luna's
technology; the potential efficacy of API's or Luna's technology;
and growth potential of certain markets. Statements that describe
the companies' business strategies, goals, prospects,
opportunities, outlook, plans or intentions are also
forward-looking statements. Uncertainties regarding technical and
scientific difficulties, issues that might arise in any particular
business relationship and other risks and uncertainties are set
forth in the companies' periodic reports and other filings with the
Securities and Exchange Commission. Such filings are available at
the SEC's website at http://www.sec.gov, and at the companies'
websites at http://www.advancedphotonix.com and
http://www.lunainc.com. The statements made in this release are
based on information available to the companies as of the date of
this release and API and Luna undertake no obligation to update any
of the forward-looking statements after the date of this
release.
CONTACT: ir@advancedphotonix.com
RELATED LINKS: http://www.advancedphotonix.com,
http://www.lunainc.com
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SOURCE Advanced Photonix, Inc.