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Ionatron becomes Applied Energetics
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Applied Energetics
: 18 February, 2008 (Company News) |
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Corporate branding change reflects product range supplied by Applied Energetics to the defence industry. |
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Ionatron has announced that effective February 20, 2008 it will change its corporate name to Applied Energetics and the company's shares will begin trading on the NASDAQ Global Market under the ticker symbol 'AERG'. The name change reflects the transition of the company from its roots in directed energy weapons research, to its emerging mix of engineering and production programs for military, aerospace, and industrial customers.
Commenting on the name change, Applied Energetics' Chairman, President and Chief Executive Officer Dana Marshall stated, "Our company has moved well beyond our foundation in scientific discovery. Our new name is intended to better express this focus on delivering practical capability, and reflect the broadening of our targeted markets and applications. Our customers have embraced our innovative concepts for guided energy, and today we are meeting their needs for well engineered production hardware for their real-world applications. We also hope that this new name will highlight the significant changes we've made to our management approach as we have matured this business over the past two years."
In conjunction with the name change, the company's new website will be online starting February 18, 2008.
The change in corporate name will not affect the validity or transferability of any existing stock certificates that bear the Ionatron name. Stockholders with Ionatron certificates should continue to hold them. No action is required.
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