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OIIM: O2Micro Agrees to be Bought for $5.00 per ADS in Cash or an EV of $146 Million


By Lisa Thompson



Today O2Micro (NASDAQ:OIIM) announced it has agreed to be bought for $5.00 per ADS in cash. The company will then be a private entity. The buyers are: FNOF Precious Honour Limited, Sterling Du, CEO and Chairman of the Board, and Perry Kuo, CFO and director.

The merger will be funded through a combination of: a cash contribution from the sponsor pursuant to an equity commitment letter, debt financing to be provided by Credit Suisse AG, Singapore Branch, and equity rollover by the management and other rollover shareholders of all shares and ADSs they beneficially own.

The transaction is expected to close during Q1 2023 and is subject to customary closing conditions, and will need shareholder approval of 2/3s of the votes. The acquirers currently have approximately 16.9% of the voting rights.

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