ATI's purchase of ArtX is complete. As part of the purchase agreement, ArtX founder Wei Yen has joined the ATI board of directors. The acquisition resulted in the issue of approximately 21.5 million shares of ATI common stock and an addition 7 million stock options. An additional 4.1 million ATI shares will be issued to former ArtX stock holders should the company meet certain performance milestones. Based on ATI's share price as the time of the acquisition's closure, the final purchase price paid by ATI for ArtX is expected to be near $450 million.
