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Last $0.12 USD
Change Today -0.0079 / -6.08%
Volume 614.9K
GTATQ On Other Exchanges
Symbol
Exchange
OTC US
Frankfurt
As of 8:10 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

gt advanced technologies inc (GTATQ) Snapshot

Open
$0.13
Previous Close
$0.13
Day High
$0.14
Day Low
$0.12
52 Week High
08/27/14 - $18.90
52 Week Low
07/27/15 - $0.12
Market Cap
16.8M
Average Volume 10 Days
323.3K
EPS TTM
$-1.50
Shares Outstanding
137.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for GT ADVANCED TECHNOLOGIES INC (GTATQ)

gt advanced technologies inc (GTATQ) Related Businessweek News

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gt advanced technologies inc (GTATQ) Details

GT Advanced Technologies Inc., a technology company, provides materials and equipment for the solar, light emitting diode (LED), and electronics industries worldwide. The company operates through three segments: Sapphire, Polysilicon, and Photovoltaic (PV). The Sapphire segment provides advanced sapphire crystallization furnace systems used to produce sapphire boules; and sapphire materials for a range of other industrial and consumer applications, including medical devices, dental, oil and gas, and watch crystals, as well as specialty optical applications, such as low absorption optical sapphire for advanced optics and Titanium-doped sapphire material for high power lasers. The Polysilicon segment offers silicon deposition reactors; equipment, technology, and engineering services for the production and purification of trichlorosilane and silane; and engineering services. This segment also provides ancillary equipment and technologies for producing seed rods. The PV segment is engaged in the development, manufacture, and sale of crystallization growth furnaces to produce silicon ingots used in the production of solar wafers. This segment offers directional solidification system (DSS) multicrystalline and MonoCast casting furnaces; ancillary equipment, such as crucible coating stations, crucible manipulators, loaders/unloaders, extraction tools, and other material handling systems; and PV parts and services. GT Advanced Technologies Inc. sells its equipment and services to polysilicon producers, solar wafer manufacturers, and sapphire producers through direct sales force and indirect sales representatives. The company was formerly known as GT Solar International, Inc. and changed its name to GT Advanced Technologies Inc. in August 2011. GT Advanced Technologies Inc. was founded in 1994 and is headquartered in Merrimack, New Hampshire.

365 Employees
Last Reported Date: 03/3/15
Founded in 1994

gt advanced technologies inc (GTATQ) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $2.0M
Executive Vice President of Industrial System...
Total Annual Compensation: $1.3M
Executive Vice President of Solar Business
Total Annual Compensation: $769.5K
Chief Administrative Officer, Vice President,...
Total Annual Compensation: $769.5K
Compensation as of Fiscal Year 2013.

gt advanced technologies inc (GTATQ) Key Developments

GT Advanced Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Period from March 29, 2015 to May 2, 2015

GT Advanced Technologies Inc. announced unaudited consolidated earnings results for the period from March 29, 2015 to May 2, 2015. For the period, the company reported revenue of $1,722,000, loss from operations of $11,505,000, loss before tax of $15,616,000, net loss from continuing operations of $15,631,000, net loss of $15,577,000.

GT Advanced Technologies Inc. Extends Solicitation Period in Connection with DIP Loan Facility

GT Advanced Technologies Inc. announced the fourth extension of the solicitation period in connection with its previously announced proposed debtor-in-possession term loan facility. Following the extension, the solicitation period will expire at 5:00 p.m., New York City time, on June 10, 2015. The solicitation process is being conducted in connection with a commitment letter, dated March 17, 2015 between the company and certain holders of the Convertible Notes. The company was authorized to undertake the solicitation process pursuant to an order of the Bankruptcy Court entered on April 2, 2015. On April 29, 2015, the company and the Backstop Lenders entered into a second amendment to the Commitment Letter by which, among other things, the Backstop Lenders agreed to an extension of their commitment to provide the DIP Loan Facility to an outside date of June 15, 2015, subject to certain terms and conditions as described more fully in the Form 8-K filed by the Company on April 30, 2015. The company anticipates that the DIP Loan Facility will provide for loans in an initial aggregate principal amount of $95.0 million, and will provide for, or permit, a letter of credit facility providing for the issuance of letters of credit with the aggregate face amounts outstanding not to exceed $15.0 million. The opportunity to participate in the DIP Loan Facility is limited to those holders of the company's Convertible Notes as of March 13, 2015 that are qualified institutional buyers, as such term is defined in Rule 144A under the Securities Act of 1933, as amended, institutional accredited investors within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act or an entity in which all of the equity investors are such institutional accredited investors. The company anticipates using the proceeds of the DIP Facility to fund working capital requirements, pay costs, fees and expenses incurred in connection with the DIP Loan Facility and the transactions contemplated thereby and pay other costs and expenses with respect to the administration of the Company's and certain of its subsidiaries' Chapter 11 cases.

Meyer Burger Announces Settlement Agreement with GT Advanced Technologies Inc

Meyer Burger Technology Ltd. announced that it has reached a settlement agreement with GT Advanced Technologies Inc. Under the agreement, GTAT recognises the validity of Meyer Burgers claim amounting to USD 34.8 million and ownership of the Meyer Burger equipment including Diamond Wire cutting systems, spare parts and diamond wire related consumables will be transferred to GTAT. GTAT filed for Chapter 11 protection under US bankruptcy code in October 2014. Meyer Burger was a supplier of industrial diamond wire saws and diamond wire materials to GTAT for the precision cutting of sapphire. The settlement agreement is subject to the approval by the responsible United States Bankruptcy Court for the District of New Hampshire. A decision by the US Bankruptcy Court is expected by the end of June 2015.

 

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