SEC Filing | Ultralife Corporation

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ulbi20210517_8k.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K


CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


May 17, 2021
Date of Report (Date of Earliest Event Reported)


ULTRALIFE CORPORATION
(Exact name of registrant as specified in its charter)

Delaware	000-20852	16-1387013
(State of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2000 Technology Parkway, Newark, New York 14513
(Address of principal executive offices) (Zip Code)

(315) 332-7100
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Common Stock, $0.10 par value per share	ULBI	NASDAQ
(Title of each class)	(Trading Symbol)	(Name of each exchange on which registered)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging Growth Company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

In a press release dated May 17, 2021, Ultralife Corporation (NASDAQ: ULBI) announced that it has received a firm-fixed price indefinite-delivery/indefinite-quantity contract from the U.S. Army for purchases of Conformal Wearable Batteries not to exceed $168 million during the three-year base award period with the potential for up to an additional $350 million should the six one-year option periods be exercised. The timing of deliveries and quantities are at the discretion of the U.S. Army, and include successful completion of First Article Testing demonstrating full compliance with the contractual product specifications and program requirements.

Item 9.01 Financial Statements, Pro Forma Financials and Exhibits

(d) Exhibits.

Exhibit Number		Exhibit Description
99.1		Press Release of Ultralife Corporation dated May 17, 2021
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 17, 2021		ULTRALIFE CORPORATION


	By:	/s/ Philip A. Fain
		Philip A. Fain
		Chief Financial Officer and Treasurer

Exhibit 99.1

Ultralife Corporation Awarded IDIQ Contract Under U.S. Army’s $1.25B Conformal Wearable Battery Program

NEWARK, N.Y. May 17, 2021 -- Ultralife Corporation (NASDAQ: ULBI) has received a firm-fixed price indefinite-delivery/indefinite-quantity contract from the U.S. Army for purchases of Conformal Wearable Batteries not to exceed $168 million during the three-year base award period with the potential for up to an additional $350 million should the six one-year option periods be exercised. The timing of deliveries and quantities are at the discretion of the U.S. Army, and include successful completion of First Article Testing demonstrating full compliance with the contractual product specifications and program requirements.

Ultralife’s contract was awarded as part of a $1.25 billion multiple-award contract for Conformal Wearable Batteries being developed under the U.S. Army’s Tactical Power Generation Program. The lightweight, Lithium-Ion rechargeable batteries will provide soldiers with a power source capable of sustaining dismounted operations in remote areas for up to 24 hours and are envisioned to increase soldier mobility by reducing the weight and quantity of batteries needed to be carried.

“Ultralife is a long-standing supplier to the U.S. military and our products are recognized for their long-life, unsurpassed safety record and reliability under the toughest conditions. Our selection to participate in what could be a military battery program extending up to nine years, demonstrates the effectiveness of our new product development strategy of designing and building technically advanced batteries in collaboration with our strategic partners,” said Michael D. Popielec, Ultralife’s President and Chief Executive Officer. “We look forward to expanding our heritage of supporting soldier modernization initiatives by providing the highest quality, mission-critical power solutions.”

About Ultralife Corporation

Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.

Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.

Company Contact:

Ultralife Corporation

Philip A. Fain

(315) 210-6110

pfain@ulbi.com

Investor Relations Contact:

LHA

Jody Burfening

(212) 838-3777

jburfening@lhai.com