eMagin: Apple, LG and Valve did not participate in the latest offering

On January 2018 OLED microdisplay maker eMagin announced that it plans to raise $11.5 million in an underwritten public offering, and on the company's filing it mentioned five specific investors - Apple, LG Display, Valve Corporation, Stillwater Holdings and Immerex.

eMagin SXGA OLED-XL microdisplay photo

While we all assumed these companies invested in eMagin, the company released a statement yesterday saying that this is not the case - "As of today, to the Company’s knowledge, none of these consumer electronics companies have taken part in the offering.". eMagin's CFO says that "eMagin listed those companies in the filing because it had discussions with them at industry event".

LG, Apple and Valve participated in eMagin's latest funding round

Update: eMagin published a statement saying that these companies (Apple, LG, Valve, Stillwater and Immerex) in fact did not participate in the offering.

On January 2018 OLED microdisplay maker eMagin announced that it plans to raise $11.5 million in an underwritten public offering, which closed on January 29. It turns out that eMagin's SEC filing specifies five investors - Apple, LG Display, Valve Corporation, Stillwater Holdings and Immerex.

eMagin XGA096 OLED-XL photo

eMagin has been saying that it is working with large companies ("Tier-1") on its consumer VR technologies, and it is a very encouraging sign to see this impressive list of new investors. Apple's AR and VR plans are still unknown, but it has been assumed for a long time that Apple is looking into OLED microdisplays, and it's interest in eMagin is not a surprise. LG is also interested in VR and AR displays, and is reportedly collaborating with Google, and it's great to see it investing in eMagin as well.

eMagin plans to raise $10.6 million in an underwritten public offering

OLED microdisplay maker eMagin announced that it plans to raise $11.5 million in an underwritten public offering. eMagin offers a combination of shares and warrants at a price of $1.35 per share and associated warrant (which has an exercise price of $1.55 per share). The offering is set to close on January 29.

eMagin SXGA OLED-XL microdisplay photo

In addition to this public placement, some of the company's directors and offices have agreed to purchase $275,000 of shares of common stock of the Company, together with warrants to purchase shares of common stock. The net proceedings of these two oplacements will total $10.6 million.

eMagin reports strong preliminary Q4 2017 results and a strong backlog into 2018

OLED microdisplay maker eMagin reported its preliminary financial results for Q4 2017. Revenues are expected to be between $6.2 million to $6.4 million - a 35% to 39% increase from Q4 2016 and up 44% to 49% from Q3 2017. The company's backlog for 2018 is $9.8 million - an increase of 53% compared to the backlog entering 2017.

eMagin XGA096 OLED-XL photo

eMagin says that the improvement in preliminary revenues reflects both the expected pickup in military demand as well as contributions from commercial projects. At the end of 2017 the company had $3.5 million in cash and equivalents and had a revolving credit loan balance of $4.0 million.

eMagin signs an agreement with a US-based chipmaker to support its consumer VR/AR OLED microdisplay scale-up

OLED microdisplay maker eMagin announced that it has signed an agreement with a U.S.-based chipmaker to support mass production of its OLED microdisplays for the consumer AR and VR markets. eMagin did not name its new partner, but it did say that this agreement will help it meet the cost requirements of the high volume consumer segment.

eMagin SXGA OLED-XL microdisplay photoeMagin's new partner will provide backplane and interface design support required by eMagin's customers. eMagin is focused on its 2K direct-patterning OLED microdisplays for the VR and AR consumer markets. The company already signed up several customers, here is the latest agreement announced two months ago.

eMagin reports its financial results for Q3 2017

OLED microdisplay maker eMagin reported its financial results for Q3 2017. Revenues in the third quarter were $4.3 million, the same as in Q3 2016. Net loss was $3 million in the quarter. As of September 30, eMagin had $2 million in cash and equivalents and a borrowing availability of $3.7 million.

eMagin XGA096 OLED-XL photo

The results were disappointing, in part due to a manufacturing issue that have since been resolved, according to eMagin. The company says it has experienced a heightened level of activity in the third quarter, both in its commercial initiatives as well as its military programs.

eMagin signed a development and licensing agreement with a tier-one CE company

OLED microdisplay maker eMagin announced that it has signed a development and licensing agreement with a tier-one consumer electronics company permitting it to use eMagin technology, specifically its direct-patterned OLED microdisplays.

An eMagin OLED microdisplay

eMagin says that this is a major step towards the commercialization of the company's proprietary OLED microdisplay technology. It seems that according to the agreement the Tier-One CE company will only pay eMagin licensing revenues if and when it decides to commercialize its microdisplays.

Updates on eMagin's BlazeTorch OLED nightvision goggles

eMagin announced its BlazeTorch consumer sports enthusiast OLED night-vision goggles back in November 2016, with aims to release it by the end of 2017 for $999. According to the very-enthusiastic review below, the BlazeTorch is excellent - but eMagin hiked the price up to $1,699.

The BlazeTorch started shipping in 2017, although it is currently not available. The Price was supposed to be $999 but some reports suggest eMagin is increasing the price to $1,699. Hopefully eMagin will start shipping it again and we will update if and when they do.

eMagin reports its financial results for Q2 2017

OLED microdisplay maker eMagin reported its financial results for Q2 2017. Revenues in the quarter were $5.3 million (down from $5.5 million in Q2 2016) and the net loss was $2.3 million (up slightly from $2.2 million in Q2 2016).

eMagin XGA096 OLED-XL photo

At the end of the quarter, eMagin had $4.9 million in cash and equivalents. eMagin is focused on expanding its presence in military programs, advancing discussions with major consumer electronics companies for VR/AR products and progressing with finding high-volume production partners.

Business Korea says Google aims to invest in LGD to secure VR OLED display capacity

Business Korea reports that LG Display is in talks with Google regarding a large investment in LGD's OLED facilities towards the development and production of VR displays. BK says the investment will amount of hundreds of billions of Won (equivalent to hundreds of millions USD).

LG VR headset prototype (March 2017)

LGD VR prototype, March 2017

The report is somewhat confusing, though. On the one had it says that Google is interested in OLED microdisplays, and on the other it says that LG will produce the displays in its existing flexible AMOLED lines, which use a different technology than microdisplays (which are produced on Silicon).

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