DivestmentJun 18, 2026, 02:21 PM
Kopin Divests All Equity Interests in Lightning Silicon Technology, LSA
AI Summary
Kopin Corporation has divested its entire equity interest in Lightning Silicon Technology, Inc. (LST) and LS Assets, Inc. (LSA) through share repurchase agreements. LST repurchased 18,000,000 shares of its Series Seed-1 Preferred Stock from Kopin for $1.00, and LSA repurchased 18,000,000 shares of its common stock from Kopin for $1.00, with all shares cancelled. Additionally, Kopin and LST terminated their Technology License Agreement and Services Agreement, with Kopin receiving a perpetual, royalty-free license to certain LST OLED microdisplay technology. Kopin does not anticipate a material effect on its financial statements.
Key Highlights
- Kopin divested 18,000,000 shares of LST Series Seed-1 Preferred Stock for $1.00.
- Kopin divested 18,000,000 shares of LSA common stock for $1.00.
- All repurchased shares were cancelled and retired as of June 10, 2026.
- Kopin no longer holds any equity interest in LST or LSA.
- Technology License Agreement between LST and Kopin terminated on April 10, 2026.
- Kopin received a perpetual, irrevocable, worldwide, royalty-free license to certain LST OLED microdisplay technology.
- Kopin will pay LST a royalty of $7.50 per display on certain customer orders secured between April 10, 2026 and October 30, 2026.
- The Company does not expect these actions to have a material effect on its consolidated financial statements.
Price Impact
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