OIIM - O2Micro stock climbs 28% as firm to be taken private in $145.9M equity value deal

O2Micro International ( NASDAQ: OIIM ) stock climbed 28% on Friday as the firm will be acquired by FNOF Precious Honour in a deal with $145.9M equity value.

OIIM will become an indirect subsidiary of Right Dynamic Investment, which will be owned by OIIM CEO Sterling Du and CFO Perry Kuo, FNOF Dynamic and certain rollover shareholders and employees of OIIM.

If completed, OIIM will become private and its American depository shares will no longer be listed on the Nasdaq Global Select Market.

Once the merger is effective, each ADS of OIIM will be cancelled in exchange for the right to receive $5/ADS in cash without interest.

Each share issued and outstanding immediately prior to the effective time will be cancelled in exchange for the right to receive $0.10/share in cash without interest.

Share-based incentives held by current or former directors and employees of OIIM will be cancelled, cashed out or rolled over into equity incentives of Right Dynamic Investment.

The deal will be funded with cash contribution from FNOF Dynamic, debt financing, and equity rollover by OIIM's management members and other rollover shareholders.

The deal is expected to close in Q1 2023.

OIIM last week received a reduced non-binding offer from the consortium to acquire the firm for $4.90/ADS .

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