O2Micro Announces Engagement of Independent Financial Advisor and Legal Counsel to the Special Committee
25 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 the special committee (the
“Special Committee”) of the Company’s board of directors (the
“Board”) has retained Needham & Company, LLC as its independent
financial advisor and Skadden, Arps, Slate, Meagher & Flom as
its independent U.S. legal counsel to assist the Special Committee
in its evaluation and consideration of the previously announced
preliminary non-binding proposal letter, dated March 14, 2022, from
FNOF Precious Honour Limited (the “Proposal”).
The Special Committee is continuing its review and evaluation of
the Proposal. The Board cautions the Company’s shareholders and
others considering trading the Company’s securities that the
Proposal constitutes only a preliminary indication of interest and
no decisions have been made with respect to the Proposal. There can
be no assurance that any definitive offer will be received, that
any definitive agreement will be executed relating to the
transaction contemplated by the Proposal, or that the transaction
contemplated by the Proposal or any other similar transaction will
be approved or consummated. The Company does not undertake any
obligation to provide any updates with respect to any transaction,
except as required under applicable law.
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.com
Joe HassettGregory Communicationsjoeh@gregoryfca.com
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