On September 26, 2019, Luna Innovations Incorporated (the \”Company\”) issued a press release announcing that Carilion Clinic (\”Carilion\”) had given notice to the Company to convert 1,321,514 shares of series A convertible preferred stock (the “Series A Preferred”) into an equivalent number of shares of the Company\’s common stock, effective September 30, 2019.

A copy of this press release is furnished herewith as Exhibit 99.1 to this Current Report. The information contained in the press release furnished as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.

As described above, on September 25, 2019, Carilion provided notice to the Company to convert 1,321,514 shares of Series A Preferred into an equivalent number of shares of the Company\’s common stock, effective September 30, 2019. The Series A Preferred was non-voting, carried a dividend of 6% payable in shares of common stock, was convertible into an equivalent number of shares of common stock at Carilion’s option, and maintained a liquidation preference $4.69159 per share. The accrued dividend shares were issuable upon demand by Carilion. In connection with the conversion of the Series A convertible preferred shares, the Company will also issue to Carilion 770,454 shares of the Company’s common stock, representing the accrued dividends as of September 30, 2019.

LUNA INNOVATIONS INC Exhibit
EX-99.1 2 lunaconversionrelease.htm EXHIBIT 99.1 Exhibit Luna Innovations Announces Conversion of Preferred Shares Dividend Payment to former Preferred Holder Ceases(ROANOKE,…
To view the full exhibit click here

About Luna Innovations Incorporated (NASDAQ:LUNA)

Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries. The Company operates in two business segments: Products and Licensing, and Technology Development. The Products and Licensing segment develops, manufactures and markets its suite of products, including high-speed optical receiver (HSOR), custom optoelectronic subsystems (Optoelectronics), and Terahertz (THz) products, and fiber optic sensing, as well as test and measurement products. The Technology Development segment performs applied research principally in the areas of sensing and instrumentation, advanced materials and health sciences. The Company’s HSOR transmission products are deployed in the Internet communications equipment infrastructure for high-speed bandwidth.