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O2Micro International Limited (OIIM) announced the completion of its merger with Rim Peak Technology Limited, making it a wholly owned subsidiary of FNOF Precious Honour Limited. This merger has resulted in the cancellation of shares, with shareholders entitled to receive US$0.10 per share and US$5.00 per American depositary share (ADS). The company has requested Nasdaq to suspend trading of its ADSs and intends to file for deregistration with the SEC, ceasing its reporting obligations. Notably, Needham & Company served as the financial advisor for the merger, alongside various legal counsels for the involved parties.
O2Micro International Limited (NASDAQ: OIIM) announced that over 99% of shareholders approved the Merger Agreement on January 31, 2023. The agreement involves the merger with FNOF Precious Honour Limited and its wholly owned subsidiary, Rim Peak Technology Limited. The merger will result in O2Micro becoming a privately held entity, with its American Depositary Shares (ADSs) delisted from the Nasdaq Global Select Market. The completion of the merger is subject to certain conditions. If successful, the company will cease trading publicly, impacting existing shareholders and their ADS programs.
O2Micro International Limited (NASDAQ: OIIM) announced an extraordinary general meeting (EGM) on January 31, 2023, to discuss the proposed merger with FNOF Precious Honour Limited. The merger will make O2Micro a wholly owned subsidiary of Parent, leading to its American depositary shares (ADS) no longer being listed on the Nasdaq. The board has recommended shareholders vote in favor of the merger. Record shareholders on December 16, 2022, are eligible to vote. Further details are available in filings with the SEC.
O2Micro International Limited (NASDAQ: OIIM) reported Q3 2022 revenue of $18.2 million, aligning with previous guidance. This marks a 33.4% decline year-over-year. The company experienced a GAAP net loss of ($1.3 million), or ($0.04) per share, compared to a net income of $3.7 million in Q3 2021. Gross margin improved slightly to 52.3%, while operating expenses rose to $11.1 million. O2Micro anticipates Q4 2022 revenue between $16.0 million and $19.0 million, and ended Q3 with $50.3 million in cash and short-term investments.
O2Micro International Limited (NASDAQ: OIIM) will announce its Third Quarter financial results for the period ending September 30, 2022, on November 4, 2022. Following the announcement, a conference call is scheduled for 6:00 a.m. (US Pacific) / 9:00 a.m. (US Eastern) to discuss the results. Participants can join via specific dial-in numbers provided. A live webcast will also be available and accessible for two months post-event. O2Micro specializes in power management components across various markets, including Consumer and Automotive.
O2Micro International Limited (NASDAQ: OIIM) has announced a Merger Agreement with FNOF Precious Honour Limited, valuing the company at approximately US$145.9 million. Under the terms, shareholders will receive US$5.00 per American Depository Share (ADS) and US$0.10 per ordinary share. This represents a premium of around 68.9% from the ADS closing price prior to the announcement. The deal is set to close in Q1 2023, pending shareholder approval. Following the merger, O2Micro will become a privately held company with its ADSs delisted from NASDAQ.
O2Micro International Limited (OIIM) announced a revised proposal on September 19, 2022, from a consortium including CEO Sterling Du and CFO Perry Kuo to acquire all outstanding shares at $4.90 per ADS. The board formed a special committee to evaluate this proposal among other strategic options. No decisions have been made yet, and shareholders are cautioned that a definitive agreement may not be reached.
O2Micro International Limited (NASDAQ: OIIM) reported Q2 2022 revenue of $22.1 million, a 2% increase from the previous quarter but a 15.8% decline year-over-year. The company expects Q3 2022 revenue between $17.0 million and $19.0 million. The gross margin improved to 52.6% from 51.5%$555,000 or $0.02 per fully diluted ADS, down from $3.2 million or $0.10 in the same quarter last year. Management highlighted a robust patent portfolio and growth in design wins despite inventory corrections.
O2Micro International Limited (NASDAQ: OIIM) will release its financial results for Q2 ending June 30, 2022, on July 29, 2022. A conference call will follow at 6:00 a.m. PT (9:00 a.m. ET), accessible via toll-free and international dial-in numbers. A live webcast of the call will be available on the company’s website, and a replay will be accessible for a week post-call. Founded in 1995, O2Micro specializes in power management components across various markets including automotive and industrial.
O2Micro International Limited (NASDAQ: OIIM) announced an updated preliminary non-binding proposal from FNOF Precious Honour Limited to acquire all outstanding ordinary shares of the Company for $5.50 per ADS. This proposal, presented by a consortium including CEO Sterling Du, aims to consolidate control. A special committee has been formed to evaluate the proposition. However, the Board cautions that no decisions have been made regarding the proposal, and there are no guarantees of a definitive offer or transaction.
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