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Asia Pacific Telecom Co Ltd Signs letter of intent with AMBIT MICROSYSTEMS CORPORATION

Monday, 26 May 2014 08:33pm EDT 

Asia Pacific Telecom Co Ltd:Signed letter of intent with AMBIT MICROSYSTEMS CORPORATION that AMBIT MICROSYSTEMS CORPORATION to subscribe 582,888,468 shares at a price of T$20 per share through private placement.AMBIT MICROSYSTEMS CORPORATION to subscribe the remaining 243,518,532 shares at the same price and on the same condition within one year.Announced to issue 826,407,000 shares through private placement on May 9.Plans to merge with AMBIT MICROSYSTEMS CORPORATION through share swap and AMBIT MICROSYSTEMS CORPORATION to dissolve after merger.AMBIT MICROSYSTEMS CORPORATION is a wholly owned subsidiary of Hon Hai Precision Industry.No further details disclosed. 

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-1.8 -2.30%
3 Feb 2016