O2Micro International Limited (NASDAQ: OIIM) shares were flat as the global leader in the design, development and marketing of high-performance integrated circuits and solutions today announced the completion of the merger with Rim Peak Technology Limited, a wholly owned subsidiary of FNOF Precious Honour Limited, pursuant to the previously announced Agreement and Plan of Merger dated as of September 30, 2022, among the Company, Parent and Merger Sub. As a result of the Merger, the Company became a wholly owned subsidiary of Parent and will cease to be a publicly traded company.
Pursuant to the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting on January 31, 2023, at the effective time of the Merger each ordinary share of the Company issued and outstanding immediately prior to the Effective Time, other than the Excluded Shares (as defined in the Merger Agreement) and Shares represented by the Company’s American depositary shares (each representing 50 Shares of the Company), has been cancelled in exchange for the right to receive US$0.10 in cash per Share, without interest and net of any applicable withholding taxes, and each ADS issued and outstanding immediately prior to the Effective Time (other than ADSs representing the Excluded Shares), together with the Shares represented by such ADSs, has been cancelled in exchange for the right to receive US$5.00 in cash per ADS, without interest and net of any applicable withholding taxes.
OIIM shares closed trading Thursday at $4.90
