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Chyron Corp And Hego AB Announces Completion Of Merger


Thursday, 23 May 2013 06:30am EDT 

Chyron Corp announced that its merger with Hego AB has been finalized, creating ChyronHego Corporation. The companies combined in a cash and stock-for-stock transaction on May 22, 2013. The combined company, headquartered in Melville, N.Y., will continue to trade on the NASDAQ under the symbol CHYR.Under the terms of the agreement, Hego AB shareholders received a total of 12,199,431 shares of Chyron common stock and $1,000 in cash in exchange for all of Hego's outstanding capital stock. Following the transaction, Hego AB shareholders own approximately 40% of the combined company, and Chyron shareholders own approximately 60%. In addition, upon the achievement of certain revenue milestones during 2013, 2014 and/or 2015, Hego's shareholders will also be entitled to receive additional shares of Chyron common stock such that the total number of shares of Chyron common stock issued in the transaction is equal to 50% of the aggregate shares of Chyron common stock outstanding, including certain outstanding options, after the closing. 

Company Quote

2.78
0.02 +0.72%
24 Dec 2014