Astrotech Corporation Expands Its Review of Strategic Alternatives
November 03 2017 - 4:05PM
Business Wire
Astrotech Corporation (NASDAQ: ASTC) announces today that it is
broadening its review of strategic alternatives to include those
involving the Corporation as a whole as well as its subsidiaries.
While many alternatives are under review, there have been no
decisions reached at this time. No decision will be made by the
board with respect to any alternative until appropriate diligence
and procedures have been completed.
The company does not intend to disclose additional details
unless and until it selects a course of action, and specifically
disclaims any obligation to provide further updates to the market,
except as specifically required by any applicable securities law or
regulation.
About Astrotech
Astrotech (NASDAQ: ASTC) is an innovative science and technology
development and commercialization company that invents, acquires,
and commercializes technological innovations sourced from internal
research, universities, laboratories, and research institutions,
and then funds, manages, and builds start-up companies for
profitable divestiture to market leaders to maximize shareholder
value. Sourced from Oak Ridge Laboratory’s chemical analyzer
research, 1st Detect develops, manufactures,
and sells chemical analyzers for use in the airport security,
military, food and beverage, and breath analysis markets. Sourced
from decades of image research from the laboratories of IBM and
Kodak, Astral Images sells film to digital image
enhancement, defect removal and color correction software, and post
processing services providing economically feasible conversion of
television and feature 35mm and 16mm films to the new 4K ultra-high
definition (UHD), high-dynamic range (HDR) format necessary for the
new generation of digital distribution. Sourced from NASA’s
extensive microgravity research, Astrogenetix is applying a
fast-track on-orbit discovery platform using the International
Space Station to develop vaccines and other therapeutics.
Demonstrating its entrepreneurial strategy, Astrotech management
sold its state-of-the-art satellite servicing operations to
Lockheed Martin in August 2014. Astrotech has operations throughout
Texas and is headquartered in Austin. For information, please
visit www.astrotechcorp.com.
This press release contains forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the
forward-looking statement. These factors include, but are not
limited to, whether we can successfully develop our proprietary
technologies and whether the market will accept our products and
services, as well as other risk factors and business considerations
described in the Company’s Securities and Exchange Commission
filings including the annual report on Form 10-K. Any
forward-looking statements in this document should be evaluated in
light of these important risk factors. The Company assumes no
obligation to update these forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20171103005819/en/
Company Contact:Astrotech CorporationEric Stober,
512-485-9530Chief Financial OfficerorIR Contact:LHA Investor
RelationsCathy Mattison and Kirsten Chapman,
415-433-3777ir@astrotechcorp.com
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