Key Developments: Adept Technology Inc (ADEP.OQ)
3.49USD
20 May 2013
$-0.05 (-1.41%)
$3.54
$3.52
$3.52
$3.49
3,450
6,108
$5.18
$2.38
Latest Key Developments (Source: Significant Developments)
Adept Technology Inc Receives $1.1 Million Order From China Civil Explosive Technology and Equipment Turn Key Service Provider
Adept Technology Inc announced that Shenzhen King Explorer Science & Technology Co., Ltd., China Civil Explosive Turn Key Service Provider, plans to upgrade more than 100 customer emulsion explosive lines they have built worldwide with fully automated packaging lines by using multiple Adept Quattro s650 parallel robots in the next three years. Each line requires either two or four Quattro s650 parallel robots depending on its throughput. The $1.1M order is expected to be fulfilled over the course of the 2013 calendar year. Full Article
Adept Technology Inc Names Robert Cain as President and Chief Executive Officer
Adept Technology Inc announced that its Board of Directors has appointed Rob Cain as President and Chief Executive Officer succeeding John Dulchinos, who has resigned as President and Chief Executive Officer and as a director of the Company. Full Article
Adept Technology Inc Appoints Michael Schradle As Chief Financial Officer
Adept Technology Inc announced that Michael Schradle has been named its senior vice president of finance and Chief Financial Officer. Full Article
Adept Technology Inc Appoints Interim Chief Financial Officer-Form 8-K
Adept Technology Inc reported in its Form 8-K that as previously disclosed, on September 20, 2012, Lisa M. Cummins, Senior Vice President of Finance, Chief Financial Officer (CFO) and Secretary of the Adept Technology, Inc. (Company), notified the Board of Directors of the Company that she is resigning her employment with the Company for personal reasons. Effective as of the termination of service by Lisa M. Cummins, John Dulchinos, the Company’s President, Chief Executive Officer and Assistant Secretary, was appointed by the Board of Directors of the Company to serve as interim Chief Financial Officer and Secretary of the Company until a successor is duly elected and qualified. Full Article
Adept Technology Inc Announces Closing of Private Placement
Adept Technology Inc announced the closing of its private placement of 8,000 shares of its Series A Convertible Preferred Stock to affiliates of Hale Capital Partners, LP for total gross proceeds of $8,000,000. The shares sold are convertible into shares of Adept's Common Stock at a conversion price of $4.60 per share. Adept intends to use the net proceeds from this sale of shares for general corporate purposes, including funding growth of its mobile and packaging business, and the possible reduction of its debt. Full Article
Adept Technology Inc Announces $8 Million Private Placement
Adept Technology Inc announced that it has entered into an agreement to sell 8,000 shares of its Series A Convertible Preferred Stock, par value $.001 per share, at a purchase price of $1,000 per share to affiliates of Hale Capital Partners, LP for a total of $8,000,000. Adept has the ability to issue up to an additional $1,500,000 of shares of Series A Convertible Preferred Stock to other buyers subject to certain conditions. The shares sold would be convertible into shares of Adept's Common Stock at a conversion price of $4.60 per share. Subject to the satisfaction of customary conditions and lender and Nasdaq approval, the sale of shares is expected to close mid-September, 2012. Adept intends to use the net proceeds from this sale of shares for general corporate purposes, including funding growth of its mobile and packaging business, and the possible reduction of its debt. Full Article
Adept Technology, Inc. Introduces New Indoor Vehicles At SEMICON West 2012
Adept Technology, Inc. announced that they will be demonstrating their new Autonomous Indoor Vehicles (AIVs) for the automated-transport of SMIF pods at the SEMICON West 2012 show. The industry event takes place from July 10, 2012 to July 12, 2012 at the Moscone Center in San Francisco, California. Two Adept transporters will be mingling with show attendees near booths 240 and 6274. The new products for transporting and handling SMIF pods, the Adept SPC-4200 and Adept SPH-2200, navigate their environment using Adept Motivity. Adept Motivity is a comprehensive suite of sensors and vehicle controls used by Adept's AIVs for self-navigation, and include functions like mapping, path-planning, and safety with no need for facility modification. Adept Motivity is key to what makes Adept AIVs different from traditional automated guided vehicles (AGVs) by delivering infrastructure-free navigation to those wishing to deploy and manage automated material handling systems. Full Article
Adept Technology, Inc. Completes Common Stock Offering
Adept Technology, Inc. announced the completion of its public offering of up to 920,000 shares of common stock at a price of $4.00 per share. Roth Capital Partners acted as the sole manager of the offering and exercised an option to purchase 120,000 shares of common stock to cover over-allotments. Adept intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, repayment of debt, capital expenditures, increasing its working capital, and the financing of ongoing operating expenses and overhead. Pending the application of the net proceeds, Adept may invest the proceeds in marketable securities and short-term investments. Full Article
Adept Technology, Inc. Announces Public Offering Of Common Stock
Adept Technology, Inc. announced that it plans to offer shares of its common stock in a public offering registered with the U.S. Securities and Exchange Commission. Adept intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, repayment of debt, capital expenditures, increasing our working capital, and the financing of ongoing operating expenses and overhead. Pending the application of the net proceeds, Adept may invest the proceeds in marketable securities and short-term investments. Roth Capital Partners will act as the sole manager of the offering. Full Article
Adept Technology, Inc. Robotics Gets Selected By Philips For High Tech Shaver Manufacturing
Adept Technology, Inc. Robotics announced that Philips, decided to build an assembly line capable of manufacturing their current line of high-tech shavers and support any future redesigns, they selected Adept Technology, as their supplier of robotics and flexible feeding systems. Full Article
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