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VIDE > SEC Filings for VIDE > Form 8-K on 5-Sep-2013All Recent SEC Filings

Show all filings for VIDEO DISPLAY CORP

Form 8-K for VIDEO DISPLAY CORP


5-Sep-2013

Completion of Acquisition or Disposition of Assets


Item 2.01 Completion of Acquisition or Disposition of Assets.

On August 30, 2013 Video Display Corporation (the "Company") completed the sale of the majority of the assets and the transfer of specified liabilities of the Company's wholly-owned subsidiary, Aydin Displays Inc. ("Aydin"). Aydin was sold to a newly formed acquisition affiliate of Sparton Corp. for a combination of cash, plus an additional earn-out potential that could be in excess of $6 million dollars based upon the achievement of reaching certain projected levels of EBITDA generated by the "new" Aydin in the subsequent 12-month period to the August 30, 2013 closing.


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