MagnaChip Semiconductor Corporation (NYSE:MX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
On March 30, 2020, the Company issued a press release announcing the transactions described above. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
The information furnished to this Item 7.01, including the attached press release, shall not be deemed filed for purposes of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of such section, nor shall such information or exhibits be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing by the Company with the SEC.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Information in this filing regarding the Companys forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking statements included in this filing are based upon information available to the Company as of the date of this filing, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. A number of important factors could cause actual results to differ materially from those indicated in such forward-looking statements. These factors include, but are not limited to, (i) the risk that the Transaction may not be completed in a timely manner or at all, (ii) the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied or waived, (iii) the occurrence of any event, change or circumstance that could give rise to the termination of the Business Transfer Agreement, (iv) the effect of the announcement or pendency of the Transaction on the Companys ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally, (v) the risk that revenues following the Transaction may be lower than expected, (vi) the risk that operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, and suppliers) may be greater than expected, (vii) the assumption of unexpected risks and liabilities, (viii) the outcome of any legal proceedings that may be instituted related to the Business Transfer Agreement or the Transaction, (ix) the diversion of and attention of management of the Company on transaction-related issues and (x) other risks detailed from time to time in the Companys filings with the SEC, including our Form 10-K filed on February 21, 2020 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. The Company assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise. Accordingly, you should not place undue reliance on these forward looking statements.
MAGNACHIP SEMICONDUCTOR Corp Exhibit
EX-10.1 2 d908763dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 FINAL VERSION BUSINESS TRANSFER AGREEMENT by and among MAGNACHIP SEMICONDUCTOR S.A. MAGNACHIP SEMICONDUCTOR,…
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About MagnaChip Semiconductor Corporation (NYSE:MX)
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of things (IoT) applications. The Company provides technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory and radio frequency applications. It operates through two segments: Foundry Services Group and Standard Products Group. Its Foundry Services Group provides specialty analog and mixed-signal foundry services for fabless and integrated device manufacturer semiconductor companies. Its Standard Products Group includes business lines: Display Solutions and Power Solutions. Its Display Solutions products provide flat panel display solutions to suppliers of large and small flat panel displays. Its Power Solutions products include discrete and integrated circuit solutions for power management in consumer, communication and industrial applications.
