Benchmark Downgrades Intevac (IVAC) to Hold, 'we have adjusted our 2023 and 2024 forecasts'
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Intevac Announces Appointment of Houlihan Lokey to Evaluate Strategic Options
June 13, 2023 4:05 PM EDTCompany Reaffirms Year-End Cash Outlook and Increases 2023 Revenue Outlook
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, announced today that the Company has retained investment banking firm Houlihan Lokey Capital, Inc. (Houlihan Lokey) to advise management and the board of directors on strategic alternatives. Additionally, the board has formed a strategic committee comprised of independent directors David Dury and Kevin Barber to work with management and Houlihan Lokey in evaluating options to increase stockholder value.
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