Why were eMagin Lobbyists in DC interested in CFIUS? Probably just exploratory. Just in case...

Background: What is CFIUS and What are the Relevant Changes under FIRRMA?

For context, CFIUS is a United States federal interagency body that reviews foreign investments (or “covered transactions”) in U.S. companies for national security implications. The Committee is chaired by the U.S. Secretary of the Treasury and composed of nine members from the federal executive branch, two ex officio members, and other members as appointed by the U.S. President. CFIUS operates pursuant to section 721 of Title VII of the Defense Production Act of 1950, commonly known as the Exon-Florio Act of 1988. In 2007, section 721 was substantially revised by the Foreign Investment and National Security Act of 2007. And now in 2018, section 721 was again significantly revised by FIRRMA, which became effective August 13, 2018.

FIRRMA passed both houses of Congress with overwhelming bipartisan support and it is intended to ensure CFIUS has the necessary tools to address national security concerns arising from foreign investments.6 FIRRMA has significantly expanded the term “covered transactions” to now include four new types of covered transactions: 1) real estate transactions; 2) non-controlling “other investments” involving “critical infrastructure,” “critical technology,” or “sensitive personal data” of U.S. persons; 3) change in foreign person’s rights; and 4) evasion. Before FIRRMA, CFIUS’ review of “covered transactions” involved any merger, acquisition, or takeover in which a foreign person could obtain control of a U.S. business.7 In other words, CFIUS was mainly concerned with the “control” factor of a “U.S. business.”8 As previously discussed FIRRMA significantly expands CFIUS’ jurisdiction and the “control” factor is no longer determinative for CFIUS review.

http://www.mondaq.com/unitedstates/x/797770/Inward+Foreign+Investment/What+Corporate+Lawyers+Need+to+Know+About+Changes+in+US+Foreign+Investment+Laws