Filed by II-VI Incorporated
pursuant to Rule 425 under the
Securities Act of 1933 and deemed
to be filed pursuant to Rule 14d-2
of the Securities and Exchange Act
of 1934
Subject Company:
Laser Power Corporation
Commission File
No.: 000-22625
August 14, 2000
Jim Martinelli
Treasurer & Chief Financial Officer
(724) 352-4455
[email protected]
II-VI Homepage: www.ii-vi.com
II-VI INCORPORATED COMPLETES EXCHANGE OFFER FOR LASER POWER CORPORATION
PITTSBURGH, PA - August 14, 2000 - II-VI Incorporated (Nasdaq: "IIVI")
announced today that it has completed its exchange offer for all of the
outstanding common stock of Laser Power Corporation (Nasdaq: "LPWR").
When the offer expired at midnight on Friday, August 11, 2000,
approximately 7,250,000 Laser Power shares had been tendered, including
approximately 150,000 tendered pursuant to notice of guaranteed delivery.
As a result of the exchange offer, II-VI's ownership has increased to
approximately 88% of the total outstanding shares of Laser Power. Prior
to the exchange offer II-VI owned 1,252,100 shares or approximately 13%
of Laser Power. II-VI is exchanging $3.08 in cash and .052 shares of
II-VI common stock for each Laser Power share tendered.
The merger, pursuant to which the remaining outstanding shares of Laser
Power common stock will be acquired, will be completed as soon as
practicable.
II-VI Incorporated reached a definitive merger agreement with Laser Power
on June 28, 2000. II-VI Incorporated launched its exchange offer on
July 13, 2000.
Headquartered in Saxonburg, Pennsylvania II-VI Incorporated designs,
manufactures and markets optical and electro-optical components, devices
and materials for infrared, near-infrared, visible light, x-ray and
gamma-ray instrumentation and has recently announced new products to
serve the telecommunication industry. II-VI's infrared products are used
primarily in high-power CO2 (carbon dioxide) lasers. II-VI's VLOC
subsidiary manufactures near-infrared and visible light products for
industrial, scientific and medical instruments and solid-state (such as
YAG and YLF) lasers and products for the telecommunications industry.
II-VI's eV PRODUCTS division manufactures and markets solid-state x-ray
and gamma-ray detector products for the nuclear radiation detection
industry.
CONTACT: Jim Martinelli, Treasurer & Chief Financial Officer of
II-VI Incorporated, 724-352-4455, or e-mail, [email protected]
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