O2Micro Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company
18 Mars 2022 - 10:30PM
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 its board of directors (the
“Board”) has received a preliminary non-binding proposal letter
(the “Proposal Letter”), dated March 14, 2022, from FNOF Precious
Honour Limited (together with its affiliated investment entities,
“FNOF”), to acquire all of the outstanding shares of the Company
(including American Depositary Share (“ADS”) for a purchase price
of US$5.50 per ADS, or US$0.11 per ordinary share, in cash (the
“Proposed Transaction”). A copy of the Proposal Letter is attached
hereto as Exhibit A.
The Board has formed a special committee consisting solely of
independent directors Lawrence Lin and Ji Liu to evaluate and
consider the Proposal Letter and the Proposed Transaction. The
Company cautions that the Board has just received the Proposal
Letter and has not made any decisions with respect to the Proposal
Letter and the Proposed Transaction. There can be no assurance that
FNOF 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 FNOF, 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 this or any other transaction,
except as required under applicable law.
About O2MicroFounded 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
Exhibit
Ahttp://ml.globenewswire.com/Resource/Download/6454a4a2-c385-4e9c-bd05-9c7af586d649
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