Forge Nano completes acquisition of HZO
NANO•Forge Nano completed its acquisition of HZO for approximately 7.3 million common shares, subject to post-closing adjustments. About 5.8 million shares are being issued at closing, with 1.5 million held back for 12 months.
1. Share consideration
Forge Nano completed its acquisition of protective electronics coatings provider HZO for approximately 7.3 million common shares, subject to post-closing adjustments. About 2.2 million shares of the consideration were exchanged for shares HZO already held, resulting in net issuance of approximately 5.1 million shares. About 5.8 million shares are being issued at closing, while 1.5 million are held back for 12 months to secure adjustment and indemnification obligations.
2. Combined operations
The acquisition combines Forge Nano’s atomic layer deposition technology with HZO’s high-volume protective coatings business, expanding production capacity and access to electronics customers. HZO will retain its brand as a wholly owned subsidiary led by President Rachael Lerebours.
