Home

Articles from Teledyne Technologies Incorporated

Teledyne Technologies Reports Fourth Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces Fourth Quarter and Full Year 2024 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its fourth quarter and full year 2024 results on Wednesday, January 22, 2025, at 8:00 a.m. Pacific. A press release with the fourth quarter and full year financial results will be issued before the opening of the New York Stock Exchange on Wednesday, January 22, 2025.
Teledyne Completes Acquisition of Micropac
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) and Micropac Industries, Inc. (OTC:MPAD) (“Micropac”) jointly announced today the successful completion of the previously announced merger of Micropac with a wholly-owned subsidiary of Teledyne.
By Teledyne Technologies Incorporated · Via Business Wire · December 30, 2024
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will participate in the following investor conferences:
Teledyne FLIR Defense Awarded $168M IDIQ Contract for U.S. Army’s Nuclear, Biological and Chemical Reconnaissance Vehicle Program
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), announced it has been awarded a five-year, $168.3 million Indefinite Delivery Indefinite Quantity (IDIQ) contract by the U.S. Army for low-rate initial production to upgrade the M1135 Stryker’s Nuclear, Biological and Chemical Reconnaissance Vehicle (NBCRV) Sensor Suite. The company also received its first delivery order, valued at $7.5 million.
By Teledyne Technologies Incorporated · Via Business Wire · November 12, 2024
Teledyne to Participate at the Baird Global Industrial Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that George Bobb, President and Chief Operating Officer, and Jason VanWees, Vice Chairman, will participate at the Baird 2024 Global Industrial Conference on Tuesday, November 12.
By Teledyne Technologies Incorporated · Via Business Wire · November 11, 2024
Teledyne to Acquire Select Aerospace and Defense Electronics Businesses of Excelitas
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has entered into an agreement to acquire select aerospace and defense electronics businesses from Excelitas Technologies Corp. (“Excelitas”) for $710 million in cash. The acquisition includes the Optical Systems (OS) business known under the Qioptiq® brand based in Northern Wales, UK, as well as the U.S.-based Advanced Electronic Systems (AES) business.
Teledyne to Acquire Micropac
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) and Micropac Industries, Inc. (OTC:MPAD) (“Micropac”) jointly announced today that they have entered into a definitive merger agreement that provides for the merger of Micropac with a wholly-owned subsidiary of Teledyne. Pursuant to the terms of the merger agreement, Teledyne will acquire all of the issued and outstanding common shares of Micropac for $20.00 per share payable in cash, without interest and subject to required withholding taxes. The all-cash transaction values Micropac at approximately $57.3 million, taking into account Micropac’s net debt as of August 24, 2024.
Teledyne Technologies Reports Third Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne FLIR Defense Wins $91 Million Contract from U.S. Army for Black Hornet 4 Nano-Drones
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), has won a five-year contract worth up to $91 million to provide its Black Hornet® 4 Personal Reconnaissance Systems to the United States Army. The advanced nano-unmanned aerial systems (UAS) are being acquired under the Soldier Borne Sensor (SBS) program, Phase II.
Teledyne’s Detector Enables NASA’s Europa Clipper MISE Instrument
Teledyne Technologies Incorporated (NYSETDY) is pleased to announce its contribution to NASA’s successful Europa Clipper launch, which took place on Monday at NASA’s Kennedy Space Center.
Teledyne Announces Third Quarter 2024 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its third quarter 2024 results on Wednesday, October 23, 2024, at 8:00 a.m. Pacific. A press release with the third quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, October 23, 2024.
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will participate in the following investor conferences:
Teledyne Technologies Reports Second Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne Announces Second Quarter 2024 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its second quarter 2024 results on Wednesday, July 24, 2024, at 8:00 a.m. Pacific. A press release with the second quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, July 24, 2024.
Teledyne Completes Acquisition of Adimec
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today the successful completion of the previously announced acquisition of Adimec Holding B.V. and its subsidiaries (“Adimec”). Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras for applications where image quality is of paramount importance. Terms of the transaction were not disclosed.
Teledyne Technologies Reports First Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne Announces First Quarter 2024 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its first quarter 2024 results on Wednesday, April 24, 2024, at 8:00 a.m. Pacific. A press release with the first quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, April 24, 2024.
Teledyne FLIR Defense Awarded $249 Million IDIQ Contract for U.S. Marine Corps Organic Precision Fires-Light Program
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), announced that it has been awarded an Indefinite Delivery/Indefinite Quantity (IDIQ) contract worth up to $249 million by the U.S. Marine Corps Systems Command for its Organic Precision Fires-Light (OPF-L) program. The initial delivery order is valued at $12 million.
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Edwin Roks, Chief Executive Officer, and Jason VanWees, Vice Chairman, will be holding investor meetings at the Bank of America Global Industrials Conference on Tuesday, March 19.
Teledyne to Acquire Valeport
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has entered into an agreement to acquire Valeport Holdings Limited and its affiliates (“Valeport”). Valeport, founded in 1969 and headquartered in Totnes, United Kingdom, designs and manufactures underwater sensors for environmental, energy, construction and defense applications. Terms of the transactions were not disclosed.
Teledyne FLIR to Supply Canadian Government More Than 800 Drones Worth CAD$95 Million for Ukraine
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), announced that Canada’s Department of National Defence is seeking over 800 SkyRanger R70 Unmanned Aerial Systems (UAS), valued at more than CAD$95 million (approximately US$70 million), that Canada will donate to the government of Ukraine.
By Teledyne Technologies Incorporated · Via Business Wire · February 20, 2024
Teledyne to Acquire Adimec
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has entered into an agreement to acquire Adimec Holding B.V. and its subsidiaries (“Adimec”). Adimec, founded in 1992 and headquartered in Eindhoven, Netherlands, develops customized high-performance industrial and scientific cameras for applications where image quality is of paramount importance.
By Teledyne Technologies Incorporated · Via Business Wire · February 13, 2024
Teledyne to Participate at the TD Cowen Aerospace & Defense Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that George Bobb, President and Chief Operating Officer, and Jason VanWees, Vice Chairman, will participate at the TD Cowen 45th Annual Aerospace & Defense Conference on Tuesday, February 13.
By Teledyne Technologies Incorporated · Via Business Wire · February 12, 2024
Teledyne Technologies Reports Fourth Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will be holding investor meetings at the 26th Annual Needham Virtual Growth Conference on Friday, January 19.
Teledyne Announces Fourth Quarter and Full Year 2023 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its fourth quarter and full year 2023 results on Wednesday, January 24, 2024, at 8:00 a.m. Pacific. A press release with the fourth quarter and full year financial results will be issued before the opening of the New York Stock Exchange on Wednesday, January 24, 2024.
Teledyne Releases Supplement to its Corporate Social Responsibility Report
Teledyne Technologies Incorporated (NYSETDY) announced today that the 2022 Supplement to Teledyne’s Corporate Social Responsibility (CSR) Report is now available on its website at www.teledyne.com at the Corporate Social Responsibility link under “Who We Are.”
By Teledyne Technologies Incorporated · Via Business Wire · November 21, 2023
Teledyne to Participate at the Baird Global Industrial Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that Edwin Roks, Executive Vice President and President, Teledyne Digital Imaging Segment, and Jason VanWees, Vice Chairman, will participate at the Baird 2023 Global Industrial Conference on Thursday, November 9.
Teledyne Technologies Reports Third Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Robert Mehrabian to be Named Executive Chairman; Edwin Roks, Chief Executive Officer; George Bobb, President and Chief Operating Officer
The Board of Directors of Teledyne Technologies Incorporated (NYSETDY) announced today that Robert Mehrabian will be named Executive Chairman, effective January 1, 2024. As Executive Chairman, Dr. Mehrabian will remain actively involved with the company with a particular focus on strategy, technology, mergers and acquisitions and margin expansion programs. Dr. Mehrabian’s employment contract has been amended and extended an additional three years to December 2026. In addition, Edwin Roks will assume the role of Chief Executive Officer, and George C. Bobb III will assume the role of President and Chief Operating Officer.
Teledyne Announces Third Quarter 2023 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its third quarter 2023 results on Wednesday, October 25, 2023, at 8:00 a.m. Pacific. A press release with the third quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, October 25, 2023.
Teledyne FLIR Defense Unveils New Black Hornet 4 Personal Reconnaissance System at AUSA Conference
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), is introducing its new Black Hornet® 4 Personal Reconnaissance System at this week’s Association of the U.S. Army (AUSA) conference in Washington D.C.
Teledyne to Acquire Xena Networks
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has entered into an agreement to acquire Xena Networks ApS (“Xena Networks”). Xena Networks, headquartered outside of Copenhagen, Denmark, is a leading provider of high-speed Terabit Ethernet validation, quality assurance, and production test solutions.
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will be participating in the following investor conferences:
By Teledyne Technologies Incorporated · Via Business Wire · September 6, 2023
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will be holding investor meetings at the 11th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech 1×1 Conference on Friday, August 4.
Teledyne Technologies Reports Second Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces Second Quarter 2023 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its second quarter 2023 results on Wednesday, July 26, 2023, at 8:00 a.m. Pacific. A press release with the second quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, July 26, 2023.
Teledyne’s Visible and Infrared Detectors are the “Eyes” of ESA’s Euclid Dark Universe Space Mission
On Saturday, July 1, the European Space Agency (ESA) is scheduled to launch the Euclid Dark Universe space astrophysics mission from Cape Canaveral, Florida. Euclid will explore the evolution of the dark Universe, constructing a three-dimensional map of the Universe by observing billions of galaxies out to 10 billion light-years. While dark energy accelerates the expansion of the Universe and dark matter governs the growth of cosmic structures, scientists do not know what dark energy and dark matter are. By observing how the Universe evolved over the past 10 billion years, astronomers can infer the properties of dark matter and dark energy to reveal more about their precise nature.
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, and/or Edwin Roks, Executive Vice President and President, Teledyne Digital Imaging Segment, will be participating in the following investor conferences:
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, and Edwin Roks, Executive Vice President and President, Teledyne Digital Imaging Segment, will be holding investor meetings at the Goldman Sachs Industrials & Materials Conference 2023 on Wednesday, May 10.
Teledyne Technologies Reports First Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces First Quarter 2023 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its first quarter 2023 results on Wednesday, April 26, 2023, at 8:00 a.m. Pacific. A press release with the first quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, April 26, 2023.
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, and Edwin Roks, Executive Vice President and President, Teledyne Digital Imaging Segment, will be holding investor meetings at the Bank of America Global Industrials Conference on Wednesday, March 22.
Teledyne to Present at the Cowen Aerospace/Defense & Industrials Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, and Edwin Roks, Executive Vice President and President, Teledyne Digital Imaging Segment, will present at the 44th Annual Cowen Aerospace/Defense & Industrials Conference on Wednesday, February 15, at 2:50 p.m. Eastern.
By Teledyne Technologies Incorporated · Via Business Wire · February 13, 2023
Teledyne Technologies Reports Fourth Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces Fourth Quarter and Full Year 2022 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its fourth quarter and full year 2022 results on Wednesday, January 25, 2023, at 8:00 a.m. Pacific. A press release with the fourth quarter and full year financial results will be issued before the opening of the New York Stock Exchange on Wednesday, January 25, 2023.
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will be holding investor meetings at the 25th Annual Needham Virtual Growth Conference on Thursday, January 12.
Teledyne Acquires ChartWorld International
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has acquired ChartWorld International Limited and affiliates (“ChartWorld”). ChartWorld, headquartered in Cyprus, with additional locations in Hamburg, Singapore, Vancouver and Tokyo, is a leading provider of digital marine navigation hardware and software provided through an affordable subscription-based model. Terms of the transactions were not disclosed.
Teledyne to Participate at the Baird Global Industrial Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will participate at the Baird 2022 Global Industrial Conference on Thursday, November 10.
Teledyne Technologies Reports Third Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne to Acquire ETM-Electromatic
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that a wholly-owned subsidiary has entered into an agreement to acquire ETM-Electromatic, Inc. (“ETM”). ETM, headquartered in Newark, California, designs and manufactures high-power microwave and high-energy X-ray subsystems for cancer radiotherapy, defense and X-ray security applications. Teledyne will also acquire ETM’s purpose-built manufacturing facility from an affiliate of ETM and its owners. Terms of the transactions were not disclosed.
Teledyne Announces Third Quarter 2022 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its third quarter 2022 results on Wednesday, October 26, 2022, at 8:00 a.m. Pacific. A press release with the third quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, October 26, 2022.
Teledyne Awarded $596 Million International Space Station Support Contract
Teledyne Technologies Incorporated (NYSETDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., has been awarded the Marshall Operations, Systems, Services and Integration II (MOSSI II) contract. As the Prime Contractor, Teledyne is responsible for the management, personnel, supplies, and equipment to support mission operations and ground systems development services to support the International Space Station (ISS) and its missions.
By Teledyne Technologies Incorporated · Via Business Wire · September 8, 2022
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will participate in the following investor conferences:
Teledyne Technologies Reports Second Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Acquires Majority Interest in NL Acoustics
Teledyne Technologies Incorporated (NYSETDY) (“Teledyne”) announced today that it has acquired a majority interest in Noiseless Acoustics Oy (“NL Acoustics”). NL Acoustics, located in Helsinki, Finland, designs and manufactures acoustics imaging instruments and predictive maintenance solutions. Terms of the transaction were not disclosed.
Teledyne Announces Second Quarter 2022 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its second quarter 2022 results on Wednesday, July 27, 2022, at 8:00 a.m. Pacific. A press release with the second quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, July 27, 2022.
Teledyne to Present at the Cowen Sustainability & Energy Transition Summit
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will present virtually at Cowen’s 2nd Annual Sustainability & Energy Transition Summit on Wednesday, June 8, at 11:50 a.m. Eastern.
Teledyne FLIR Awarded $500 Million U.S. Army Contract for Family of Weapons Sights-Individual Program
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSETDY), announced that it has won a five-year, firm-fixed-price, Indefinite Delivery/Indefinite Quantity (ID/IQ) contract worth up to $500.2 million to provide advanced thermal imaging systems for the U.S. Army’s Family of Weapons Sights-Individual (FWS-I) program.
Teledyne Technologies Reports First Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces First Quarter 2022 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its first quarter 2022 results on Wednesday, April 27, 2022, at 8:00 a.m. Pacific. A press release with the first quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, April 27, 2022.
Teledyne to Present at the Cowen Aerospace/Defense & Industrials Conference
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will present at the 43rd Annual Cowen Aerospace/Defense & Industrials Virtual Conference on Wednesday, February 9, at 11:20 a.m. Pacific.
Teledyne Technologies Reports Fourth Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Announces Fourth Quarter and Full Year 2021 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its fourth quarter and full year 2021 results on Thursday, January 27, 2022, at 8:00 a.m. Pacific. A press release with the fourth quarter and full year financial results will be issued before the opening of the New York Stock Exchange on Thursday January 27, 2022.
Teledyne to Hold Investor Meetings
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will be holding investor meetings at the 24th Annual Needham Virtual Growth Conference on Wednesday, January 12.
Teledyne Imaging’s Infrared Sensors Launched Aboard the James Webb Space Telescope
Teledyne Technologies Incorporated (NYSETDY) congratulates NASA, the European Space Agency (ESA), and the Canadian Space Agency (CSA) on the successful launch of the James Webb Space Telescope (JWST). Teledyne provided 15 extremely sensitive H2RG infrared detectors that are used in three of the four science instruments of JWST: the Near-Infrared Camera (NIRCam), the Fine Guidance Sensor (FGS), and the Near-Infrared Spectrograph (NIRSpec). Ten Teledyne detectors in NIRCam will study the structure and morphology of the universe. Three Teledyne detectors in FGS will be used to point and stabilize the telescope. Two Teledyne detectors in NIRSpec will reveal information about chemical composition, temperature, and velocity of what JWST observes. Teledyne also provided the SIDECAR ASIC focal plane electronics that operate the H2RG detectors.
By Teledyne Technologies Incorporated · Via Business Wire · December 27, 2021
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Vice Chairman, will participate in the following investor conferences:
Teledyne Technologies Reports Third Quarter Results
Teledyne Technologies Incorporated (NYSETDY)
Teledyne Appoints Vince Morales to Board of Directors
Teledyne Technologies Incorporated (NYSETDY) announced today the appointment of Vincent J. Morales, current Senior Vice President and Chief Financial Officer of PPG NYSE:PPGNYSEPPG)
Teledyne Announces Third Quarter 2021 Earnings Webcast Details
Teledyne Technologies Incorporated (NYSETDY) will hold a conference call to discuss its third quarter 2021 results on Wednesday, October 27, 2021, at 8:00 a.m. Pacific. A press release with the third quarter financial results will be issued before the opening of the New York Stock Exchange on Wednesday, October 27, 2021.
Robert Mehrabian to Resume Role of Chairman, President and Chief Executive Officer Upon Retirement of Al Pichelli
The Board of Directors of Teledyne Technologies Incorporated (NYSETDY) announced today that Robert Mehrabian will resume the role of Chairman, President and Chief Executive Officer upon the retirement of current President and Chief Executive Officer, Al Pichelli, on October 15, 2021. The term of Dr. Mehrabian’s current employment contract will remain through December 2023. In addition, three other Teledyne Executives were promoted as part of succession planning.
Teledyne to Participate in Upcoming Investor Conferences
Teledyne Technologies Incorporated (NYSETDY) today announced that Jason VanWees, Executive Vice President, will participate in the following investor conferences:
Teledyne Technologies Reports Second Quarter Results
Teledyne Technologies Incorporated (NYSETDY):
Teledyne Awarded $39.2 Million U.S. Navy Contract for Autonomous Underwater Vehicles
Teledyne Technologies Incorporated (NYSETDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., was awarded an indefinite-quantity/indefinite-delivery contract with a maximum base value of $27.4 million from the U.S. Navy for the Littoral Battlespace Sensing-Glider (LBS-G) program. The contract, awarded under full and open competition, includes a single five-year ordering period and five one-year option periods. The option periods, if exercised, have a ceiling value of $39.2 million.