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Photronics Purchases U.S. nanoFab Building from Micron Technology

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Photronics, Inc. (NASDAQ: PLAB), announced today that it paid approximately $35 million to Micron Technology, Inc. (“Micron”) in connection with the purchase of its U.S. nanoFab building in Boise, ID that it previously leased from the building's owner Micron. In connection therewith, the Company also amended its credit facility adding a 5-year term loan for $25 million and reducing interest rates by 25 basis points on borrowings as defined in the credit facility.

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