Astrotech Begins Search for Strategic Acquisitions
November 17 2021 - 6:00AM
Business Wire
Astrotech Corporation (Nasdaq: ASTC) now intends to actively
pursue strategic and accretive acquisition opportunities. Tom
Wilkson, as Lead Independent Director, will focus on identifying
strategic acquisitions for Astrotech Corporation and its
subsidiaries.
Mr. Wilkinson has been a board member of Astrotech since 2018.
He has extensive experience in M&A, strategy, and leading
public companies, most recently as Chief Executive Officer of
Xplore Technologies, Sonim Technologies, and Cipherloc Corporation,
where he continues to serve as Chairman of the Board. Thomas B.
Pickens III, Chairman and CEO of Astrotech Corporation, was
Chairman of the Board for Xplore Technologies, and worked with Mr.
Wilkinson as CEO to successfully sell the business to Zebra
Technologies in 2018.
Ideal acquisition candidates for Astrotech will complement or
improve the company’s core technology, accelerate revenue growth,
and/or reduce time to market, while being accretive to earnings and
therefore shareholder value. Through this effort, we expect to
enhance the deployment of our core technology in multiple use
cases, including in medical equipment, industrial instrumentation,
security, and safety. We expect the application of our technology
to be complementary to the performance of our target
acquisitions.
“We are finding many attractive opportunities and we are
delighted to appoint Mr. Wilkinson to this new role within the
board of directors of Astrotech,” stated Mr. Pickens. “Having been
a board member since 2018, Mr. Wilkinson understands our business
well and his professional background is ideal for this role.”
About Astrotech Astrotech (NASDAQ: ASTC) is a mass
spectrometry company that launches, manages, and commercializes
scalable companies based on its innovative core technology through
its wholly-owned subsidiaries. 1st Detect develops,
manufactures, and sells trace detectors for use in the security and
detection market. AgLAB is developing chemical analyzers for
use in the agriculture market. BreathTech is developing a
breath analysis tool to provide early detection of lung diseases.
Astrotech is headquartered in Austin, Texas. For information,
please visit www.astrotechcorp.com.
Forward-Looking Statements 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, the severity and duration
of the COVID-19 pandemic and its impact on the U.S. and worldwide
economy, the timing, scope and effect of further U.S. and
international governmental, regulatory, fiscal, monetary and public
health responses to the COVID-19 pandemic, the Company’s use of
proceeds from the common stock offerings, whether we can
successfully complete the development of our new products and
proprietary technologies, whether we can obtain the FDA and other
regulatory approvals required to market our products under
development in the United States or abroad, whether the market will
accept our products and services and whether we are successful in
identifying, completing and integrating acquisitions, as well as
other risk factors and business considerations described in the
Company’s Securities and Exchange Commission filings including the
Company’s most recent Annual Report on Form 10-K. Any
forward-looking statements in this document should be evaluated in
light of these important risk factors. Although the Company
believes the expectations reflected in its forward-looking
statements are reasonable and are based on reasonable assumptions,
no assurance can be given that these assumptions are accurate or
that any of these expectations will be achieved (in full or at all)
or will prove to have been correct. Moreover, such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of the Company, which may cause
actual results to differ materially from those implied or expressed
by the forward-looking statements. In addition, any forward-looking
statements included in this press release represent the Company’s
views only as of the date of its publication and should not be
relied upon as representing its views as of any subsequent date.
The Company assumes no obligation to correct or update these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211117005524/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation,
(512) 485-9530
Astrotech (NASDAQ:ASTC)
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