Forge Nano Holdings, Inc. (NASDAQ: NANO, FNEWS), a US-based semiconductor equipment and advanced materials company, announced on 5 November 2026 that it has completed its acquisition of HZO, Inc., a leading provider of protective nanocoatings for electronics headquartered in Morrisville, North Carolina. The all-stock deal was structured for approximately 7.3 million shares of Forge Nano common stock and brings HZO's high-volume Parylene and thin-film coating operations under Forge Nano's ownership. The combination pairs Forge Nano's Atomic Armor atomic layer deposition platform with HZO's established customer base across consumer electronics, energy, IoT, medical device, and automotive sectors, representing a significant expansion of Forge Nano's commercial reach.

Key Points

  • Forge Nano Holdings, Inc. (NASDAQ: NANO, FNEWS) has completed its acquisition of HZO, Inc.
  • The deal was an all-stock transaction totalling approximately 7.3 million shares of Forge Nano common stock, with net issuance of approximately 5.1 million shares after accounting for shares already held by HZO
  • Approximately 1.5 million shares are held back for twelve months to secure post-closing adjustment and indemnification obligations
  • Investors should watch for integration progress across shared facilities in Morrisville, North Carolina, and HZO's coating sites in the US, Mexico, and Vietnam

HZO's Parylene Coating Platform and Global Facilities Join Forge Nano's ALD Business

HZO applies ultra-thin, pinhole-free Parylene and thin-film coatings that protect electronic assemblies from moisture, corrosion, and chemical exposure. The company operates three coating facilities located in the United States, Mexico, and Vietnam, serving some of the world's largest manufacturers across consumer electronics, energy, IoT, medical device, and automotive markets. HZO will continue to operate as a wholly owned subsidiary of Forge Nano under its existing brand, led by President Rachael Lerebours, with its full workforce transferring to Forge Nano. The announcement states the two companies will operate adjacent facilities in Morrisville, North Carolina.

All-Stock Transaction Structure: 7.3 Million Shares Issued with Twelve-Month Holdback Provision

Under the terms of the agreement, Forge Nano acquired all outstanding equity of HZO in an all-stock transaction for approximately 7.3 million shares of Forge Nano common stock, subject to customary post-closing adjustments. Approximately 2.2 million of those shares were issued in exchange for Forge Nano shares already held by HZO prior to closing, resulting in a net issuance of approximately 5.1 million new shares. Around 5.8 million of the total shares were issued at closing, while approximately 1.5 million shares are being held back for twelve months to cover post-closing adjustment and indemnification obligations, the announcement states.

Forge Nano's Atomic Armor Platform and HZO's Production Capacity Target Shared Surface Engineering Customers

Forge Nano's Atomic Armor platform deposits precision coatings one atomic layer at a time, primarily serving AI-era chip manufacturing and defence battery applications from its headquarters in Thornton, Colorado. The strategic rationale disclosed in the announcement centres on offering customers a single surface engineering partner across the device lifecycle, from wafer and cell through to finished electronic assembly. The combined entity expects to introduce Forge Nano's ALD materials and equipment to HZO's established customer base, whilst applying HZO's high-volume production disciplines to Forge Nano's defence battery and semiconductor programmes. Integration risk and the ability to realise anticipated synergies remain key uncertainties for investors monitoring this combination.