ASTRONICS CORPORATION (NASDAQ:ATRO) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.
wholly owned subsidiary of Astronics Corporation (the Company)
acquired substantially all the assets and certain liabilities of
Custom Control Concepts LLC (CCC) to the terms of an Asset
Purchase Agreement, dated March 16, 2017 (the Agreement) by and
between CCC and the Company. Under the terms of the Agreement,
the total consideration for the transaction was $10.7 million
(the Purchase Price) in cash.
contemplated thereby do not purport to be complete and are
subject to, and qualified in their entirety by, the full text of
the Agreement, which is filed herewith as Exhibit 10.1 and
incorporated herein by reference.
Corporations shareholders and investors of its terms. The
representations, warranties and covenants contained in the
Agreement were made only for purposes of such agreement and as of
specific dates, were made solely for the benefit of the parties
to the Agreement and may be intended not as statements of fact,
but rather as a way of allocating the risk to one of the parties
if those statements prove to be inaccurate. In addition, such
representations, warranties and covenants may have been qualified
by certain disclosures not reflected in the text of the
Agreement, and may apply standards of materiality in a way that
is different from what may be viewed as material by shareholders
of, or other investors in, Astronics Corporation. Such
shareholders and investors are not third-party beneficiaries
under the Agreement and should not rely on the representations,
warranties and covenants or any descriptions thereof as
characterizations of the actual state of facts or condition of
Astronics Corporation, the Company or CCC.>
announcing entry into the Agreement. A copy of the press release
is included as Exhibit 99.1 to this Current Report and is
incorporated herein by reference.
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Exhibit Number
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Description
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10.1
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Asset Purchase Agreement dated March 16, 2017
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99.1
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Press Release of Astronics Corporation dated April 3,
2017 |
About ASTRONICS CORPORATION (NASDAQ:ATRO)
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. The Company operates through two segments: Aerospace and Test Systems. The Company’s Aerospace segment designs and manufactures products for the global aerospace industry. Its product lines include lighting and safety systems, electrical power generation, distribution and motions systems, aircraft structures, avionics products, systems certification and other products. The Company’s Test Systems segment designs, develops, manufactures and maintains automated test systems that support the semiconductor, aerospace, communications and weapons test systems, as well as training and simulation devices for both commercial and military applications. ASTRONICS CORPORATION (NASDAQ:ATRO) Recent Trading Information
ASTRONICS CORPORATION (NASDAQ:ATRO) closed its last trading session up +0.26 at 31.35 with 165,316 shares trading hands.
