Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425)
March 25 2021 - 7:33PM
Edgar (US Regulatory)
Filed by II-VI Incorporated
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: Coherent, Inc.
Commission File No.: 001-33962
Date: March 25, 2021
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II-VI Incorporated
375 Saxonburg Boulevard
Saxonburg, PA
16056
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March 25, 2021
Dear One II-VI Employees,
I am very pleased to report that we have entered into a definitive agreement to acquire Coherent. II-VI and Coherent
are an ideal fit for one another, and we are really excited to welcome the talented Coherent team to II-VI. Together, we will create a global leader in photonic solutions, compound semiconductors and laser
technology & systems with:
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vast opportunities to accelerate our growth through complementary platforms,
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increase competitiveness with combined scale across the entire value chain,
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deeper market intelligence from complementary business models, and
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greater diversification of revenue by end-market and geography.
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I have attached our press release that describes the transaction and the benefits of the combination of these two great companies in
more detail. For all these reasons and more, we believe that this is a great combination that will fuel and accelerate our long-term growth. We hope you share our excitement as well!
Todays announcement is just the first step and we expect the transaction will close by year-end 2021. Until
then, it remains business as usual here at II-VI.
As always, if you receive any inquiries, please do not comment,
but direct them to Corporate Communications at corporate.communications@ii-vi.com.
Thank you for staying
focused on your great work and for your continued dedication to our great company. Were looking forward to embarking on this next chapter of II-VI with Coherent and delivering even greater value to all
our stakeholders.
Sincerely,
Bob Bashaw
President
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T. 724.352.4455 | F. 724.352.5284 | ii-vi.com
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II-VI Incorporated
375 Saxonburg Boulevard
Saxonburg, PA
16056
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Forward-looking Statements
This communication contains forward-looking statements relating to future events and expectations that are based on certain assumptions and contingencies. The
forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The forward-looking statements in this communication involve risks and uncertainties, which could cause actual
results, performance or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures.
The Company
believes that all forward-looking statements made in this communication have a reasonable basis, but there can be no assurance that managements expectations, beliefs or projections as expressed in the forward-looking statements will actually
occur or prove to be correct. Factors that could cause actual results to differ materially from those discussed in the forward-looking statements herein include, but are not limited to: (i) the failure of any one or more of the assumptions
stated above to prove to be correct; (ii) the conditions to the completion of the business combination transaction with Coherent(the Transaction) and the equity investment by Bain, including the receipt of any required stockholder
and regulatory approvals, and the risks that those conditions will not be satisfied in a timely manner or at all; (iii) the occurrence of any event, change or other circumstances that could give rise to an amendment or termination of the merger
agreement, including the receipt by Coherent of an unsolicited proposal from a third party; (iv) the Companys ability to finance the Transaction, the substantial indebtedness the Company expects to incur in connection with the Transaction
and the need to generate sufficient cash flows to service and repay such debt; (v) the possibility that the Company may be unable to achieve expected synergies, operating efficiencies and other benefits within the expected time-frames or at all
and to successfully integrate Coherents operations with those of the Company; (vi) the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption
(including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Transaction; (vii) litigation and any unexpected costs, charges or expenses resulting from
the Transaction; (viii) the risk that disruption from a Transaction materially and adversely affects the respective businesses and operations of the Company and Coherent; (ix) potential adverse reactions or changes to business
relationships resulting from the announcement, pendency or completion of the Transaction; (x) the ability of the Company to retain and hire key employees; (xi) the risks relating to forward-looking statements and other Risk
Factors discussed in the Companys Annual Report on Form 10-K for the fiscal year ended June 30, 2020 and additional risk factors that may be identified from time to time in future filings of
the Company; (xii) the purchasing
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T. 724.352.4455 | F. 724.352.5284 | ii-vi.com
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II-VI Incorporated
375 Saxonburg Boulevard
Saxonburg, PA
16056
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patterns of customers and end-users; (xiii) the timely release of new products, and acceptance of such new products by the market; (xiv) the
introduction of new products by competitors and other competitive responses; (xv) the Companys ability to integrate recently acquired businesses and realize synergies, cost savings and opportunities for growth in connection therewith,
together with the risks, costs and uncertainties associated with such acquisitions and integration efforts; (xvi) the Companys ability to devise and execute strategies to respond to market conditions; (xvii) the risks to anticipated
growth in industries and sectors in which the Company and Coherent operate; (xviii) the risks to realizing the benefits of investments in R&D and commercialization of innovations; (xix) the risks that the Companys stock price
will not trade in line with industrial technology leaders; and (xx) the risks of business and economic disruption related to the currently ongoing COVID-19 outbreak and any other worldwide health
epidemics or outbreaks that may arise. The Company disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events or developments, or otherwise.
No Offer or Solicitation
This
document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Additional Information and Where to Find It
This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal that II-VI has made for a business combination transaction with Coherent. In furtherance of this proposal and subject to future developments, II-VI may file one or more
registration statements, proxy statements, tender offer statements or other documents with the SEC. This communication is not a substitute for any proxy statement, registration statement, tender offer statement, prospectus or other document II-VI and/or Coherent may file with the SEC in connection with the Transaction. INVESTORS AND SECURITY HOLDERS OF II-VI AND COHERENT ARE URGED TO READ THE PROXY STATEMENT(S),
REGISTRATION STATEMENT, TENDER OFFER STATEMENT, PROSPECTUS AND/OR OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION. Any definitive proxy
statement(s) or prospectus(es) (if and when available) will be mailed to stockholders of II-VI and/or Coherent, as applicable. Investors and security holders will be able to obtain free copies of these
documents (if and when available) and other documents filed with the SEC by II-VI through the web site maintained by the SEC at www.sec.gov, and by visiting II-VIs
investor relations site at https://ii-vi.com/investor-relations/.
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T. 724.352.4455 | F. 724.352.5284 | ii-vi.com
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II-VI Incorporated
375 Saxonburg Boulevard
Saxonburg, PA
16056
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Participants in the Solicitation
This communication is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC. Nonetheless, II-VI and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the Transaction. You can find information
about II-VIs executive officers and directors in II-VIs proxy statement for its 2020 annual meeting, which was filed with the SEC on September 29, 2020
and in II-VIs Annual Report on Form 10-K for the fiscal year ended June 30, 2020, which was filed with the SEC on August 26, 2020. Additional information
regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC if and when they become available. These documents (if
and when available) may be obtained free of charge from the SECs website www.sec.gov, and by visiting II-VIs investor relations site at
https://ii-vi.com/investor-relations/.
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T. 724.352.4455 | F. 724.352.5284 | ii-vi.com
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