SANTA CLARA, Calif., Feb. 17, 2016 /PRNewswire/ -- UniPixel, Inc. (NASDAQ: UNXL), today announced that the senior secured convertible notes issued to two investors in 2015 have been paid in full and retired. With this repayment, the Company no longer has any outstanding debt securities.
Jeff Hawthorne, president and chief executive officer of UniPixel, said, "We are pleased that the terms of the convertible notes have been met and that the Company now has greater financial flexibility going forward. The Note financed the acquisition of the Atmel sensor technology, which integrated with the UniPixel manufacturing know-how and material science expertise, resulted in a high-performance, cost effective product - XTouch™. The combination of the XTouch superior metal mesh technology and Diamond Guard™ hard coat has yielded touch sensors that enable production of computing devices that are faster, thinner and lighter and that address the evolving needs of the market. We are building our book of business with existing opportunities and are excited about those opportunities ahead in the coming years as we expand into new markets beyond tablets and notebooks including automotive and industrial."
UniPixel, Inc. (NASDAQ: UNXL) develops and markets Performance Engineered Films for the touch screen and flexible electronics markets. The Company's roll-to-roll electronics manufacturing process patterns fine line conductive elements on thin films. The company markets its technologies for touch panel sensor, cover glass replacement, and protective cover film applications under the XTouch™ and Diamond Guard™ brands. For further information, visit www.unipixel.com.
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding expectations regarding opportunities for UniPixel's products. Such statements contain words such as "will," and "expect," or the negative thereof or comparable terminology. These statements are based on management's current expectations. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results and the timing of events to differ materially from those discussed or implied in any such statement. These risks, uncertainties, and other factors include, but are not limited to, the ability to recognize revenues, the ability to extend product offerings into new areas or products, the ability to commercialize licensed technology, unexpected occurrences that deter the "bring to market" plan for products, trends and fluctuations in the industry, changes in demand and purchasing volume of customers, our ability to attract and retain qualified personnel, the ability to move product sales to production levels, the success of product sales in new markets or of recently produced product offerings, the ability to enforce our intellectual property rights and those set forth under Item 1A "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014 and other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to UniPixel as of the date hereof, and UniPixel assumes no obligation to update any forward-looking statement.
Contact: Joe Diaz, Robert Blum, Joe Dorame Lytham Partners, LLC 602-889-9700 firstname.lastname@example.org
SOURCE UniPixel, Inc.