PANL is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies. They are selling 5 mill shares, any thought EMAN could one company on their shopping list. Link to story below.
Mr Sculley has make it abundantly clear that in no way
is he , nor the rest of his team interested in being
bought out ..
my guess is that the warrants and such outstanding dilutive
instruments are there to thwart such interest from a
of course , the spectre of a b/o may be there , but
down the road , after EMAN has boosted revs to
say $100 mil +
later on .. a buyout could be very sweet for all , especially if there are multiple suitors , but
for now , it would just a super bargain for some
larger outfit ....
later .. garce
5M shares @40+ would make about 200M - enough to buy EMAN.
Would they do it ?
The markets of EMAN and PANL are different.
The technology is different.
Their supply chain is different and manufacturing process is different.
There is no gain for PANL there , only to claim that they are the only OLED company,
Would they get EMAN as a way to get Mr Sculley to make his magic with the combined company?
I have serious doubts about all this.
I think companies like BAE or Northrop Grumman are more likely candidates to buy EMAN.
EMAN is not on their shopping list.
Nobody is on their shopping list.
PANL is a typical R&D company - they had a great report, but they still losing money.
Their revenue doubled and they still need more money to survive. They are just selling the news. After i read their report I happily shorted it last week although I missed the spike of 49.
As for the "leader in developing and delivering OLED" - that what they said. Their financial report has more information about how everybody wants to get OLED displays and not so much about actual contracts.
The comment below from the press release is pretty clear they will be buying/shopping for things, have seen others that are much more generic.
"The proceeds of the offering will be used for general corporate purposes, including the acquisition, development and license of properties, assets, entities or technologies."
They have $65 million in cash today, and are burning about 7 mill per year. Current share price is over $44 dollars, so if the raise is somewhere in that neighborhood, they will have $220,000,000 (less fees) to play with. Their current market cap is 1.7 Billion. All cash or combo of cash and stock is doable. EMAN's cash flow would be very comforting to the PANL guys. Not saying they would be interested or that it would be desirable, just wondering if there would be potential interest. One is more gov. one is more commercial, could be an interesting comb, but don't know either well enough to know if there is any synergy in technology, mgt., etc