Kopin Corporation Announces a Two-For-One Stock Split
Taunton, MA. Kopin Corporation (NASDAQ: KOPN), today announced that its board of directors has approved a two-for-one stock split, to be effected in the form of a stock dividend. The stock split is subject to stockholder approval of an increase in the Company s authorized shares of Common Stock from 20 million shares to 60 million shares.
Stockholders of record as of October 29, 1999 will be able to vote on the proposed share increase at a special meeting to be held in Boston on December 15, 1999. Subject to receiving stockholder approval, the Record Date for the stock split will be December 20, 1999. On or about December 29, 1999, the transfer agent will mail certificates representing one additional share for each share held on this Record Date. The stock split would increase the number of shares outstanding from approximately 15 million to approximately 30 million shares.
About Kopin
Kopin Corporation is a leading manufacturer of gallium arsenide (GaAs) transistor products and miniature flat panel displays for wireless communications and digital imaging applications. The Company s GaAs heterojunction bipolar transistors are used to produce power amplifier circuits for wireless telephone handsets and gigabit circuits for fiberoptic and Internet data transmission. Kopin s CyberDisplay(TM) family of ultra-small, high density imaging devices is designed for products including camcorders and digital cameras. Kopin s Web site is located at www.kopin.com.
Statements in this news release relating to Kopin Corporation s proposed share increase and subsequent stock split may be considered forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties that could materially affect future results. Among these risk factors is the failure by the Company to obtain shareholder approval for the proposed share increase, and the other risk factors and cautionary statements listed from time to time in the Company s periodic reports and registration statements filed with the Securities and Exchange Commission, including but not limited to, the Company s prospectus dated October 22, 1999, the Company s Form 10-Q for the quarter ended October 2, 1999 and its Annual Report on Form 10-K for the fiscal year ended December 31, 1998. CyberDisplay is a trademark of Kopin Corporation.
Contact: Richard Sneider, CFO Kopin Corporation Tel: (508) 824-6696 rsneider@kopin.com or Scott Solomon Account Executive Sharon Merrill Associates, Inc. Tel: (617) 542-5300 ssolomon@investorrelations.com
Richard Sneider,CFO Kopin Corporation Tel: (508) 824-6696 rsneider@kopin.com
or Scott Solomon Account Executive Sharon Merrill Associates, Inc. Tel: (617)
542-5300 ssolomon@investorrelations.com
E-mail: ssolomon@investorrelations.com
Web site: http://www.kopin.com
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