Apple, LG and Valve did not invest in OLED display maker eMagin

Apple, LG and Valve did not invest in OLED display maker eMagin


Update: A source very close to Apple says that the company has not invested in OLED display maker eMagin — and, according to a statement eMagin has now also published, nor have Valve and LG:

“eMagin Corporation, or the “Company,” (NYSE American:EMAN) a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today is providing clarification in response to a media report in which the author apparently misconstrued a form underwriting agreement that the Company filed as an exhibit to its S-1 on January 23, 2018 and incorrectly stated that a group of certain consumer electronics companies participated in the recent offering of the Company that closed on January 29,2018. As of today, to the Company’s knowledge, none of these consumer electronics companies have taken part in the offering.”

The notice of the three companies, along with two others, investing in a round for the company appeared in an SEC filing for a fundraising that the company advertised, under a list entitled, “Specified Investors”. As we pointed out in our original report, below, the filing from the end of January was tipped to us by the blog Road to VR.

“Wishful thinking,” said a source to us. Another speculates that this may have been a right of first refusal — although, to be clear, we have no clue whether Apple and the others have a pre-existent relationship to merit that.

The news sent the stock for this relatively modest company soaring over 17 percent, adding nearly $10 million to its market cap, ending at $59 million.

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