O2Micro Announces Receipt of a Revised Preliminary Non-Binding Proposal to Acquire the Company
19 Septiembre 2022 - 4:00PM
O2Micro International Limited (NASDAQ Global Select Market: OIIM)
(“O2Micro” or the “Company”), a global leader in the design,
development and marketing of high-performance integrated circuits
and solutions, today announced that it has received a revised
preliminary non-binding proposal letter (the “Proposal Letter”),
dated September 19, 2022, from FNOF Precious Honour Limited
(“FNOF”), Mr. Sterling Du, the Chief Executive Officer and the
Chairman of the Board, and Mr. Perry Kuo, the Chief Financial
Officer and a director of the Company (collectively, the
“Consortium”), to reduce the purchase price for acquiring all of
the outstanding ordinary shares of the Company (including shares
represented by American depositary shares (the “ADSs”), each
representing 50 shares of the Company) that are not already owned
by the Consortium or otherwise rolled over, to US$4.90 per ADS (or
US$0.098 per ordinary share) (the “Proposed Transaction”). A copy
of the Proposal Letter is attached hereto as Exhibit A.
As previously announced, the Board had formed a special
committee (the “Special Committee”) to evaluate the Proposed
Transaction, or any alternative strategic option that the Company
may pursue. The Special Committee will continue to evaluate the
Proposed Transaction in light of the latest development.
The Board cautions the Company’s shareholders and others
considering trading the Company’s securities that no decisions have
been made with respect to the Proposal Letter, the Proposed
Transaction, or any alternative strategic option that the Company
may pursue. There can be no assurance that the Consortium will make
any definitive offer to the Company, that any definitive agreement
relating to the Proposal Letter will be entered into between the
Company and Consortium, or that the Proposed Transaction or any
other similar transaction will be approved or consummated. The
Company does not undertake any obligation to provide any updates
with respect to the Proposed Transaction or any other transaction,
except as required under applicable law.
Exhibit A
A PDF accompanying this announcement is available
at http://ml.globenewswire.com/Resource/Download/9ccf30e8-bb65-451c-9493-833cb3618e53
About O2Micro
Founded in April 1995, O2Micro develops and markets innovative
power management components for the Computer, Consumer, Industrial
and Automotive markets. Products include Backlighting and Battery
Management.
O2Micro, the O2Micro logo, and combinations thereof are
registered trademarks of O2Micro. All other trademarks or
registered trademarks are the property of their respective
owners.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates,” “confident” and similar statements.
O2Micro may also make written or oral forward-looking statements in
its periodic reports to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical or current facts, including statements about
beliefs and expectations and statements relating to the Proposed
Transaction, are forward-looking statements. Forward looking
statements involve inherent risks and uncertainties. Actual
results, levels of activity, performance or achievements may differ
materially from those expressed or implied in these forward-looking
statements for a variety of reasons, including: changes in demand
for devices that use our products; market conditions in the
semiconductor industry and the economy as a whole; the stages of
our products in their life cycles; variations, expansions or
reductions in the mix of our product offerings; the growth and/or
contraction of the Company; the timing of our product
introductions; changes in interest rates; changes in availability
and cost of supplies, such as inflation and supply chain issues;
unpredictability of an inability to control the outcome or timing
of litigation; changes in applicable laws, regulatory or
geopolitical environment, or accounting standards; potential
delisting of our ordinary shares and/or ADSs from NASDAQ; specific
product manufacturing costs; increased competition; changes in
laws, rules and regulations regarding our intellectual property;
introduction of new competitors or competing technologies; and the
increase of unexpected expenses; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in the Company’s filings with the
Securities and Exchange Commission. All information provided in
this press release and in the attachments is as of the date of the
press release, and O2Micro undertakes no duty to update such
information, except as required under applicable law.
For more information, please contact:
Contact Information:Daniel MeybergO2Micro Investor
Relationsir@o2micro.comJoe HassettGregory
Communicationsjoeh@gregoryfca.com
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