M&A - ULTRALIFE CORP

Form Type: 10-Q

Filing Date: 2025-05-12

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925016140

Filing Summary: The report provides a detailed overview of Ultralife Corporation's financial position for the quarter ended March 31, 2025. Key highlights include revenues of $50,746,000, an increase from $41,927,000 in the same period last year, leading to a net income of $1,879,000. The company completed the acquisition of Electrochem Solutions, Inc. on October 31, 2024, for a total consideration of $50,000,000, facilitating growth through scale and increased product offerings. The operating expenses showed an increase due to higher research and development costs. Cash and cash equivalents rose to $8,719,000 from $6,854,000. Total assets amounted to $223,753,000 with total liabilities at $87,149,000, indicating a stable financial structure and credit management. The company's equity stands at $136,604,000, showing strong performance despite competitive market conditions, with the acquisition expected to enhance revenue growth and operational efficiencies. The document includes interim financial statements and notes that reflect the company's adherence to GAAP standards. Other segment reporting enhancements were mentioned as well, which aim to improve disclosures under the new accounting standards.

Form Type: NT 10-K

Filing Date: 2025-03-07

Corporate Action: Acquisition

Type: New

Accession Number: 000143774925006653

Filing Summary: Ultralife Corporation filed Form NT 10-K on March 7, 2025, notifying about a late filing of their annual report for the period ended December 31, 2024. The delay stems from the acquisition of Electrochem Solutions, Inc. completed on October 31, 2024, where Ultralife acquired all outstanding shares from Integer Holdings Corporation. The company faced challenges obtaining financial results from Electrochem’s former parent company, which is necessary for preparing compliant consolidated financial statements and completing the required audit. Ultralife expects to file the 10-K within the timeframe allowed by Rule 12b-25 by April 1, 2025. Additionally, the notification indicates that all other periodic reports have been filed and anticipates no significant changes in results of operations for the reporting period compared to the previous fiscal year.

Form Type: 8-K/A

Filing Date: 2025-01-16

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925001267

Filing Summary: This document amends the Current Report on Form 8-K filed on November 6, 2024, which reported Ultralife Corporation's acquisition of Electrochem Solutions, Inc. on October 31, 2024. The amendment is intended to include the audited historical financial statements of Electrochem as well as unaudited pro forma financial information, which were not included in the original filing. The filed documents include audited combined financial statements for the year ended December 31, 2023 and unaudited combined financial statements for the nine months ended September 27, 2024. Additionally, it presents unaudited pro forma combined financial information as of September 30, 2024, addressing both the nine-month period and the year ended December 31, 2023. No other changes have been made to the Original Form 8-K.