“eMagin Corp. Chief Financial Officer Jeffrey Lucas said on Monday that Apple Inc. didn’t invest in the augmented-reality display component maker, contradicting a listing in a regulatory filing mentioning the technology giant,” Mark Gurman reports for Bloomberg. “An EMagin filing with the Securities and Exchange Commission listing Apple among ‘specified investors’ was reported earlier on Monday by TechCrunch, Bloomberg News and others. The document, from Jan. 23, proposed an EMagin share offering and also named LG Display Co., virtual-reality startup Immerex, gaming company Valve Corp., and Stillwater Holdings LLC as investors.”
“Lucas said eMagin listed those companies in the filing because it had discussions with them at industry events. If those firms had decided to invest, eMagin would have given them different pricing. However, that didn’t happen, at least in Apple’s case, he said in an interview,” Gurman reports. “The filing was misinterpreted, the CFO added.”
“Shares of eMagin jumped as much as 41 percent earlier on Monday,” Gurman reports. “After Bloomberg reported Lucas’ comments, the stock gave up a lot of those gains and was temporarily halted.”
Read more in the full article here.
MacDailyNews Take: Fake news.
The company has issued a statement, “eMagin Corporation Updates the Market,” which reads:
eMagin Corporation, or the “Company,” (NYSE American:EMAN) a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today is providing clarification in response to a media report in which the author apparently misconstrued a form underwriting agreement that the Company filed as an exhibit to its S-1 on January 23, 2018 and incorrectly stated that a group of certain consumer electronics companies participated in the recent offering of the Company that closed on January 29,2018. As of today, to the Company’s knowledge, none of these consumer electronics companies have taken part in the offering.
About eMagin Corporation
A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin’s microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. More information about eMagin is available at www.emagin.com.
Source: eMagin Corporation
SEE ALSO:
Apple joins LG, Valve, and others investing up to $10.6 million in OLED mini display maker eMagin – February 12, 2018
“The filing was misinterpreted, the CFO added.”
No, it wasn’t ‘misinterpreted’. eMagin was spreading ‘disinformation’; aka: lying about it.
eMagin was padding its list of investors and they got caught. Hence, the backtracking term, ‘misinterpreted’.
Stay far, far away…
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