O2Micro International Limited (OIIM) shares were rising 36.84% to trade at $4.42 in after-hours at last check. O2Micro (OIIM) stock lost -5.56% to close Friday’s session at $3.23. The stock volume remained 0.76 million shares, which was higher than the average daily volume of 0.16 million shares within the past 50 days. O2Micro (OIIM) shares have fallen by -60.56% over the last 12 months, and they have moved down by -0.46% in the past week.
Over the past three months, the stock has lost -30.98%, while over the past six months, it has shed -47.73%. Further, the company has a current market of $97.51 million and its outstanding shares stood at 28.50 million. Company’s stock skyrocketed after an attempt to be acquired.
What offer has OIIM received?
Established in April 1995, O2Micro (OIIM) creates and advertises imaginative power the board parts for the Computer, Consumer, Industrial and Automotive business sectors. OIIM items incorporate Backlighting and Battery Management.
O2Micro on Friday declared that its board of directors (“The “Board”) has gotten a fundamental non-restricting proposition letter (the “Proposal Letter”), dated March 14, 2022.
OIIM get he Proposal Letter from FNOF Precious Honor Limited (along with its associated speculation elements, “FNOF”), to procure every one of the extraordinary portions of the Company (counting American Depositary Share (“ADS”).
FNOF offered OIIM to be gained at a buy cost of US$5.50 per ADS, or US$0.11 per common offer, in real money (the “Proposed Transaction”).
The Board has shaped an exceptional panel comprising exclusively of free chiefs Lawrence Lin and Ji Liu to assess and consider the Proposal Letter and the Proposed Transaction.
OIIM alerts that the Board has quite recently gotten the Proposal Letter and has not settled on any choices concerning the Proposal Letter and the Proposed Transaction.
There can be no affirmation that FNOF will make any conclusive proposal to the Company, that any authoritative arrangement connecting with the Proposal Letter will be placed into among OIIM and FNOF, or that the Proposed Transaction or some other comparable exchange will be endorsed or culminated.
OIIM’s new endeavors:
O2Micro (OIIM) as of late declared the award of a patent gave to O2Micro for framework and strategies for dealing with a battery pack. The innovation will assist OIIM give producers a compelling answer for the battery load the executives with more than one burden while simultaneously conveying progressed security assurances.