Form 4: Fonon Corp Acquires 3 Million Shares of Laser Photonics in Licensing Deal
SEC Form 4
Fonon Corporation receives 3,000,000 restricted shares of Laser Photonics common stock in exchange for an exclusive, worldwide license to its laser material processing equipment and technology.
Summary
- On May 21, 2024, Laser Photonics entered into a License Agreement with Fonon Corporation.
- Fonon received an exclusive, worldwide, sublicensable license to Laser Photonics' laser material processing equipment and technology.
- This includes all applications of laser cutting, marking, engraving, laser welding, brazing, ablation, laser drilling, semiconductor chip marking, semiconductor and FPD (flat panel display) laser processing equipment, and all other laser material processing equipment documented or existing in a form of knowhow and/or trade secrets.
- In return, Fonon received 3,000,000 restricted shares of Laser Photonics common stock valued at $2.21 per share.
- Fonon now owns 4,000,000 shares of Laser Photonics common stock.
- Fonon is controlled by ICT Investments LLC, which is owned and managed by Dmitriy Nikitin.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The licensing agreement suggests a potentially beneficial partnership between the two companies. The acquisition of shares by Fonon indicates confidence in Laser Photonics.
Positives
- Fonon Corp gains an exclusive, worldwide license to Laser Photonics' laser material processing equipment and technology.
- Fonon Corp receives 3,000,000 restricted shares of Laser Photonics common stock.
Industry Context
Licensing agreements are common in the technology sector, allowing companies to leverage each other's intellectual property and expand market reach. This agreement suggests a strategic partnership between Laser Photonics and Fonon in the laser material processing industry.
Stakeholder Impact
- Shareholders of Laser Photonics may see changes in the stock value due to the licensing agreement and share issuance.
- Fonon benefits from access to Laser Photonics' technology.
- Laser Photonics benefits from Fonon's technology.
Key Dates
| Date | Description |
|---|---|
| 05/21/2024 | Laser Photonics entered into a License Agreement with Fonon Corporation. |
| 07/11/2024 | Date of signature of the reporting person. |
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