Welcome to our dedicated page for Immersion news (Ticker: IMMR), a resource for investors and traders seeking the latest updates and insights on Immersion stock.
Immersion Corporation (NASDAQ: IMMR) is a global leader in haptic technology, creating tactile feedback solutions that enhance digital interactions across mobile devices, automotive systems, and consumer electronics. This page provides investors and industry professionals with a centralized source for official company announcements and market-moving developments.
Access real-time updates on earnings reports, technology licensing agreements, and strategic partnerships that shape the future of touch-enabled interfaces. Our curated news feed includes press releases about product innovations, patent filings, and cross-industry applications of IMMR's haptic systems.
Key coverage areas include financial performance updates, R&D breakthroughs in digital tactility, and expansions into emerging markets. Bookmark this page to monitor how Immersion Corp's technology continues to redefine user experiences in gaming, automotive controls, and medical device interfaces.
Barnes & Noble Education (NYSE: BNED) has announced its preliminary, unaudited financial results for fiscal year 2024, ending April 27, 2024. The company reported consolidated GAAP revenue of $1.567 billion, a slight increase from $1.543 billion in the prior year. Consolidated GAAP net loss from continuing operations was approximately $63 million, an improvement from the $90 million loss reported last year. Non-GAAP Adjusted EBITDA from continuing operations stood at $45 million, compared to a loss of $8 million the previous year.
BNED also announced a proposed series of financial transactions to enhance its financial position, including a fully backstopped $45 million Rights Offering and a $50 million Private Investment led by Immersion These measures are expected to generate $75 million of net cash proceeds after transaction costs. The company has received commitments to refinance its existing asset-backed loan facility, providing access to a $325 million facility maturing in 2028. Shareholders will vote on these proposals at a special meeting on June 5, 2024.
Immersion (NASDAQ: IMMR) announced the renewal of its license agreement with Samsung Electronics. This extension allows Samsung to continue using Immersion's haptic feedback technology in its devices, enhancing user experiences in gaming, computing, and software applications. Eric Singer, President and CEO of Immersion, expressed delight at the renewal, emphasizing the growing importance of high-quality tactile effects in consumer devices.
Barnes & Noble Education (NYSE: BNED) announced the effectiveness of its $45 million equity rights offering, as declared by the SEC on May 14, 2024. This offering, part of a broader agreement with Immersion and key stakeholders, aims to raise $95 million in new equity capital, including a $50 million investment led by Immersion. BNED expects to net $75 million in cash post-transaction costs and will convert $34 million in second lien debt to common stock. Additionally, BNED has secured commitments to refinance its asset-backed loan facility to $325 million, maturing in 2028. The rights offering involves issuing 900 million shares at $0.05 per share, available to shareholders of record on May 14, 2024. The subscription period ends on June 5, 2024. Proceeds will be used to pay transaction expenses and reduce the company's ABL facility balance. The company's common stock will continue trading on the NYSE under the symbol 'BNED'.
Immersion , a haptics technology company, reported strong financial results for the first quarter of 2024. The company saw a significant increase in total revenues, GAAP net income, and non-GAAP net income compared to the same period in 2023. Total cash and short-term investments also experienced a notable increase. The CEO highlighted the positive start to the year and emphasized the company's focus on protecting and monetizing its intellectual property to drive long-term shareholder value.
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