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Industry consolidation, acquisitions and other arrangements among competitors may adversely affect our competitiveness because it may be more difficult to compete with entities that have access to their combined resources.
−Removed: As a result of such consolidation,
−Removed: acquisition or other arrangements, our current and potential competitors might be able to adapt more quickly to new technologies and consumer preference, devote greater resources to the marketing and promotion of their products, initiate or withstand price competition, and take advantage of acquisitions or other opportunities more readily and develop and expand their products more quickly than we do.
+Added: As a result of such consolidation, acquisition or other arrangements, our current and potential competitors might be able to adapt more quickly to new technologies and consumer preference, devote greater resources to the marketing and promotion of their products, initiate or withstand price competition, and take advantage of acquisitions or other opportunities more readily and develop and expand their products more quickly than we do.
These combinations may also affect customers’ perceptions regarding the viability of companies of our size and, consequently, affect their willingness to purchase our products.
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affect our business, results of operations and financial condition.
−Removed: In fiscal 2021, we experienced reduced availability of components
−Removed: used to manufacture our products, especially the chipsets, which has impacted, and we expect will continue to impact our ability and
−Removed: costs to manufacture our products.
−Removed: These supply shortages have resulted in increased component delivery lead times and increased
−Removed: costs to obtain components, particularly chipsets, and resulted in delays in product production.
−Removed: We do not stockpile sufficient
−Removed: components, particularly the chipsets, to cover the time it would take to re-engineer our products to replace the components used to
−Removed: manufacture or products.
−Removed: While we are continuing to work closely with our suppliers and contract manufacturers to minimize the
−Removed: potential adverse impacts of the supply shortage, there are many companies seeking to purchase the limited supply of chipsets and
−Removed: other components, many of which have greater resources and larger market share than we have, which may limit the effectiveness of
−Removed: We expect that shortages of chipsets and other components will continue and may have an adverse impact on our ability
−Removed: to manufacture our products and meet demand for our products.
−Removed: Should the shortage of chipsets and other components used to
−Removed: manufacture our products continue, there is no assurance that we will be able to obtain sufficient chipsets or other components on
−Removed: acceptable terms, if at all, which could delay or disrupt the supply of our products and affect our business, results of operations and
−Removed: financial condition.
+Added: In fiscal 2021and the first half of fiscal 2022, we experienced reduced availability of components used to manufacture our products, especially the chipsets, which has impacted, and we expect will continue to impact our ability and costs to manufacture our products.
+Added: These supply shortages have resulted in increased component delivery lead times and increased costs to obtain components, particularly chipsets, and resulted in delays in product production.
+Added: We do not stockpile sufficient components, particularly the chipsets, to cover the time it would take to re-engineer our products to replace the components used to manufacture or products.
+Added: While we are continuing to work closely with our suppliers and contract manufacturers to minimize the potential adverse impacts of the supply shortage, there are many companies seeking to purchase the limited supply of chipsets and other components, many of which have greater resources and larger market share than we have, which may limit the effectiveness of our efforts.
+Added: We expect that shortages of chipsets and other components will continue and may have an
+Added: adverse impact on our ability to manufacture our products and meet demand for our products.
+Added: Should the shortage of chipsets and other components used to manufacture our products continue, there is no assurance that we will be able to obtain sufficient chipsets or other components on acceptable terms, if at all, which could delay or disrupt the supply of our products and affect our business, results of operations and financial condition.
We purchase components, directly or through our contract manufacturers, from third parties that are necessary for the manufacture
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Our business model relies in part on leanly staffed, independent and efficient research and development teams.
−Removed: Our research and development teams are organized around small groups or individual contributors for a given platform, and there is little overlap in knowledge and
−Removed: responsibilities.
+Added: Our research and development teams are organized around small groups or individual contributors for a given platform, and there is little overlap in knowledge and responsibilities.
In the event that we are unable to retain the services of any key contributors or are unable to identify and attract additional contributors, we may be unable to bring our products or product improvements to market in a timely manner,
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stock and fund our operations or limit our ability to react to changes in our industry or the economy.
−Removed: As of September 30, 2021, our balance outstanding under the Third Amended and Restated Credit Agreement for our Term Facility and Revolving Facility, was $487.5 million and $0.0 million, respectively.
+Added: As of December 31, 2021, our balance outstanding under the Third Amended and Restated Credit Agreement for our Term Facility and Revolving Facility, was $481.3 million and $30.0 million, respectively.
In the future we may need to raise additional capital to
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Our Term Facility and Revolving Facility primarily use the London Interbank Offered Rate (“LIBOR”) to calculate interest due to
−Removed: On July 27, 2017, the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, announced that it
−Removed: intends to phase out LIBOR by the end of 2021.
+Added: On July 27, 2017, the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, announced that it intends to phase out LIBOR by the end of 2021.
As a result, it is possible that LIBOR will be discontinued as a reference rate after
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Whether SOFR will become a widely accepted benchmark in place of LIBOR, however, remains in question.
−Removed: As such, the future of
−Removed: LIBOR and potential alternative reference rates are uncertain at this time.
+Added: As such, the future of LIBOR and potential alternative reference rates are uncertain at this time.
If LIBOR is discontinued, the terms of our Third
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effects of the foregoing on our cost of capital cannot yet be determined.
−Removed: Further, the same costs and risks that may lead to the
−Removed: unavailability of LIBOR may make one or more of the alternative rate methods impossible or impracticable to determine.
−Removed: these proposals or consequences could materially and adversely affect our financing costs, and as a result, our financial condition,
−Removed: operating results and cash flows.
+Added: Further, the same costs and risks that may lead to the unavailability of LIBOR may make one or more of the alternative rate methods impossible or impracticable to determine.
+Added: Any of these proposals or consequences could materially and adversely affect our financing costs, and as a result, our financial condition, operating results and cash flows.
Risks Related to Our Common Stock
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stockholders generally.
−Removed: As of November 5, 2021, Mr.
+Added: As of February 4, 2022, Mr.
Pera beneficially owned 56,278,181 shares of our common stock.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.