IVAC News & Events

Option delistings effective April 22nd include PAYCOR HCM INC. (PYCR), PACTIV EVERGREEN INC. (PTVE), Nevro Corp (NVRO), American Software, Inc. (LGTY), Intevac, Inc. (IVAC), Intra-Cellular Therapies Inc (ITCI), Gritstone Bio, Inc. (GRTSQ), Enfusion (ENFN), ENDEAVOR GROUP HOLDINGS INC. (EDR), Air Transport Services Group Inc. (ATSG), Altair Engineering Inc (ALTR), ACCOLADE INC (ACCD), and VOXX International Corp (VOXX).

Intevac announced that a one-time special cash dividend of 5.2c per share of common stock will be paid on March 28 to all stockholders of record as of the close of business on March 24. The one-time special cash dividend is being paid in connection with the proposed acquisition of Intevac by Seagate. Seagate has commenced a tender offer to acquire all of Intevac's outstanding common stock for $4.00 per share in cash. The tender offer is scheduled to expire at one minute after 11:59 p.m., Eastern Time, on March 28. Intevac's board of directors unanimously recommends that all stockholders tender their shares in the offer. Tendering shares into the Offer will not impair a stockholder's right to receive the one-time special cash dividend.

Sees Q4 revenue $9M-$10.5M, consensus $9.6M. Sees Q4 gross margin 30%-32%. Sees Q4 operating expenses $8.4M-$8.6M. Sees Q4 tax expense $4000,000. Says announcing restructuring. Says 19% headcount reduction worldwide. Comments and guidance taken from Q3 earnings conference call.

Comments taken from Q3 earnings conference call.