LEX News
Streetworks GAN Galleon Light Square Update
Cooper Lighting Solutions is pleased to announce a performance upgrade for the Galleon Area Site and Flood luminaire, including improved lumen output and efficacy, as well as new shielding and CCT options.
Exhibitor Registration Opens for ArchLIGHT Summit at Dallas Market Center Fall 2021
Dallas Market Center announces that exhibitor registration is now open for ArchLIGHT Summit, a new lighting trade event and educational platform for architectural, specification, and design communities. The first ArchLIGHT Summit will take place on September 21-22, 2021 on the first floor of the Dallas Trade Mart building.
Shaper Sense Drum Collection selected as a recipient of Architectural SSL Magazine Product Innovation Awards
The Shaper Sense Drum Collection has been selected as a recipient of this year’s Architectural SSL Magazine Product Innovation Awards! With judging and evaluation of products and systems from a distinguished panel of 22 designers and lighting specialists skilled in product evaluation, the PIA program awards manufacturers based on attributes, qualities, functionality and/or performance beyond industry standards.
Learn more about the Shaper Sense Drum Collection here.
Introducing Portfolio LDA3B LED
Portfolio is pleased to announce the IRiS P3LED and PN3LED successor, LDA3.
New and improved, offered with the same accessories and element reflectors, this new recessed adjustable/slope now includes all Portfolio CCTs, CRI, Vividtune, connected and various driver options. Additions include lumen output from 250 to 2300 with field interchangeable optics in 5° increments from 10°-70° offering ultimate flexibility for designing any space. The adjustable design allows the luminaire to be installed in sloped ceilings in addition to traditional flat ceilings. Offering 365° rotation and lockable tool-less 45° tilt with center beam optics providing full output without flash back.
Learn more HERE.
Cree LED Sold for (up to) $300M Total; Only $50M Cash
Cree, Inc. (Nasdaq: CREE) today announced that the Company has entered into a definitive agreement to sell its LED Products business unit (“Cree LED”) to SMART Global Holdings, Inc. (Nasdaq: SGH) for up to $300 million, including fixed upfront and deferred payments and contingent consideration.
Under the terms of the agreement, which has been approved by the Company’s board of directors, Cree expects to receive an initial cash payment of $50 million upon closing and $125 million to be paid upon maturity of a seller note issued by SMART to Cree due August 2023. Cree also has the potential to receive an earn-out payment of up to $125 million based on the revenue and gross profit performance of Cree LED in the first full four quarters post-transaction close, also payable in the form of a three-year seller note.