UNIVERSAL DISPLAY CORPORATION (NASDAQ:OLED) Files An 8-K Regulation FD DisclosureItem 7.01Regulation FD Disclosure.
As previously disclosed, the OLED Patent License Agreement between Universal Display Corporation (the “Registrant”) and Samsung Display Co., Ltd (“SDC”) (as the assignee of Samsung Mobile Display Co., Ltd. (“SMD”)), as well the Supplemental OLED Material Purchase Agreement between the Registrant and SDC (as the assignee of SMD), both dated as of August 22, 2011, expired in accordance with their terms on December 31, 2017.
The Registrant and SDC are engaged in on-going discussions regarding a formal long-term extension of these agreements.The Registrant expects the parties to continue to conduct business during these discussions. The Registrant intends to provide an update once a resolution to these discussions is completed. No time frame has been established for the completion of these discussions.
The information set forth under this “Item 7.01. Regulation FD Disclosure” shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.
Forward-Looking Statements
This Current Report on Form 8-K includes statements that are not historical, such as those relating to the Registrant’s expectations regarding its future relationship with SDC.These statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this report, as they reflect the Registrant’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in the Registrant’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in the Registrant’s annual report on Form 10-K for the year ended December 31, 2016. The Registrant disclaims any obligation to update any forward-looking statement contained in this report.
About UNIVERSAL DISPLAY CORPORATION (NASDAQ:OLED)
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers. It also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers. It has produced and sold phosphorescent emitter materials that produce red, yellow, green and light-blue light, which are combined in various ways for the flat panel display and the lighting market. It has also developed host materials for the emissive layer.