Advanced Photonix, Inc. Declares Dividend Distribution of Preferred Share Purchase Rights.Business Editors CAMARILLO, Calif.--(BUSINESS WIRE)--Sept. 20, 2002 The Board of Directors of Advanced Photonix, Inc.(R) (AMEX AMEX See: American Stock Exchange :API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. ) today announced it had adopted a rights plan and declared a dividend distribution of one Preferred Share Purchase Right on each outstanding share of its Class A Common Stock. Richard Kurtz, Chairman of Advanced Photonix, Inc., stated: "The Rights are designed to provide greater assurance that all of the stockholders of Advanced Photonix, Inc. receive fair and equal treatment in the event of any proposed takeover of the Company and to guard against partial tender offers, squeeze-outs, share accumulations through open market or private purchases and other abusive Tending to deceive; practicing abuse; prone to ill-treat by coarse, insulting words or harmful acts. Using ill treatment; injurious, improper, hurtful, offensive, reproachful. tactics to gain control of Advanced Photonix, Inc. without paying all stockholders a control premium." The dividend distribution will be made after October 1, 2002, payable to stockholders of record at the close of business on that date. The Rights will expire on September 18, 2012. Advanced Photonix, Inc.(R) (AMEX:API) is a leading supplier of innovative, silicon-based electro-optical products and design solutions to a global OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customer base. Products include the patented Large Area Avalanche Photodiode Avalanche photodiodes (APDs) are photodetectors that can be regarded as the semiconductor analog to photomultipliers. By applying a high reverse bias voltage (typically 100-200 V in silicon), APDs show an internal current gain effect (around 100) due to impact ionization (avalanche (LAAPD) and FILTRODE(R) detectors, as well as PIN photodiodes. More information on Advanced Photonix can be found at http://www.advancedphotonix.com. The information contained herein includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products, limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company and a decline in the general demand for optoelectronic Refers to devices that function due to the interaction of light and electronics. For example, an electronic signal is the input to a laser diode, which generates light pulses that are transmitted through an optical fiber. products. |
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