Epistar Board Approves Merge with TSMC SSL, and Non-Public Issuing 165M Shares

In two separate company statements released yesterday, Epistar board approved fully integrating TSMC Solid State Lighting (元芯光电), and non-public issuance of 165 million company shares to raise capital.

TSMC SSL will be fully absorbed by Epistar, and will no longer operate as an independent subsidiary, according to the statement.

Epistar acquired TSMC SSL in early January this year, and has a 97.95% stake in the company.

Epistar logo. (Epistar/LEDinside)

Remaining TSMC SSL shareholders will be paid NT $1.46 per share in cash by Epistar. The merge is scheduled to be completed on June 29, 2015 and will follow regulations outlined in Taiwan’s Enterprises Mergers and Acquisitions Act Article 19, Company Act, and other related laws.

The main goal of the merge is to efficiently integrate resources and related technologies, lower costs and reasonable management, stated Epistar.

On the same day, the company board approved increasing funds through non-public issuance of 165 million shares, which could raise the company’s capital by 13.03%.

The shares issued is estimated to raise a total of NT $8 billion (US $260 million), based on Epistar’s current share value of NT$ 48 per share. However, Epistar’s share capital has been raised to NT $11.02 billion since merging with FOREPI in late December 2014, bringing potential capital raised from the stock issuance to NT $12.67 billion.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

XLamp® XP-L Photo Red S Line LEDs Deliver High Efficiency for Horticulture Applications Revolutionizing Horticulture Lighting with Cree LED Cree LED is committed to delivering innovative lighting solutions for horticulture and agriculture,... READ MORE

For most of history, humans used flames to generate light. Eventually, they discovered that a super-heated metal element in a light bulb could produce useful illumination, only for this technology to be superseded by the LED. One common featur... READ MORE