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April 1, 2014
08:28 EDTARTXArotech acquires UEC Electronics
Arotech announced that it has acquired UEC Electronics, a company based in Hanahan, South Carolina. UEC will be integrated into Arotech's Battery and Power Systems Division. The initial acquisition price of UEC under the contract entered into with the seller of UEC consisted of $28.0M in cash and 775,000 shares of Arotech's common stock, plus a potential earn-out of $5.5M over the next two calendar years. On March 31, the closing price of Arotech's common stock on the Nasdaq Global Market was $6.22 per share, causing the common stock issued in the acquisition to be valued for accounting purposes at $4.82M, subject to potential reduction to reflect the fact that the stock being issued in the acquisition is unregistered and not freely tradable. Arotech's primary bank has funded $22.5M of the cash requirement, which Arotech expects to pay back over the next five years out of its operating cash flow.
News For ARTX From The Last 14 Days
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May 12, 2015
12:10 EDTARTXArotech files notice of late filing
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May 11, 2015
16:33 EDTARTXArotech reaffirms 2015 adjusted EPS outlook 31c-36c
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16:32 EDTARTXArotech reports Q1 adjusted EPS 3c, consensus 3c
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