Key Developments: Sycamore Networks Inc (SCMR.PK)
0.41USD
24 May 2013
$-0.01 (-2.38%)
$0.42
$0.41
$0.42
$0.41
33,846
301,439
$17.38
$0.35
Latest Key Developments (Source: Significant Developments)
Sycamore Networks Inc Announces Management Change-Form 8-K
Sycamore Networks Inc reported in its Form 8-K that on March 27, 2013, the Board also approved the termination of the employment of Paul F. Brauneis, Sycamore’s Vice President of Finance and Administration, Chief Financial Officer (CFO) and Treasurer, effective as of April 1, 2013, and Daniel E. Smith, Sycamore’s President and Chief Executive Officer (CEO), and Kevin J. Oye, Sycamore’s Vice President, Systems and Technology, in each case effective as of April 8, 2013. On March 27, 2013, the Board appointed Alan R. Cormier, Sycamore’s current General Counsel and Secretary, as the President and Chief Executive Officer (CEO) of Sycamore, effective immediately following the departure of Daniel E. Smith as President and Chief Executive Officer (CEO) on April 8, 2013. Also on March 27, 2013, the Board appointed Anthony Petrillo, Sycamore’s current Corporate Controller and Assistant Secretary, as Chief Financial Officer (CFO) and Treasurer, effective immediately following the departure of Paul F. Brauneis as Vice President of Finance and Administration, Chief Financial Officer (CFO) and Treasurer on April 1, 2013. Full Article
Sycamore Networks Inc Announces Special Cash Distribution
Sycamore Networks Inc announced that Board of Directors approved a special cash distribution of $1.81 per share of common stock. The special cash distribution will be paid on February 28, 2013 to stockholders of record as of February 18, 2013. Given the amount of the special cash distribution, the Company expects that the ex-dividend date for the special cash distribution will be March 1, 2013, the day after the payment date for the special cash distribution. Full Article
Sycamore Networks Inc Completes Sale Of Intelligent Bandwidth Management Business To Marlin Equity Partners
Sycamore Networks Inc announced sale of substantially all of assets related to Sycamore's Intelligent Bandwidth Management Business to a portfolio company of Marlin Equity Partners (Buyer) pursuant to and on the terms set forth in the Asset Purchase and Sale Agreement dated October 23, 2012 by and between Sycamore and Buyer. On January 31, 2013, the Company completed the sale of Intelligent Bandwidth Management Business, which includes the Company's optical networking and multiservice access products and related services and rights to the Sycamore name, to Buyer in exchange for a total purchase price of $18.75 million in cash and the assumption by Buyer of certain related liabilities. The Company will continue to use the name Sycamore Networks, Inc. as corporate name in connection with, and until the completion of, the liquidation and dissolution of the Company. Full Article
Sycamore Networks Inc Approves Special Cash Distribution
Sycamore Networks Inc announced that, on November 27, 2012, its Board of Directors approved a special cash distribution of $0.50 per share of its common stock. The special cash distribution will be paid on December 20, 2012 to stockholders of record as of December 10, 2012. Given the amount of the special cash distribution, the Company expects that the ex-dividend date for the special cash distribution will be December 6, 2012, which is two business days prior to the record date for the special cash distribution. Full Article
Sycamore Networks Inc Approves Special Cash Distribution
Sycamore Networks Inc announced that the Board of Directors have approved a special cash distribution of $2.00 per share of common stock, which will be paid on November 12, 2012 to stockholders of record as of November 2, 2012. In accordance with NASDAQ Rule 11140(b), the ex-dividend date will be November 13, 2012. Full Article
Sycamore Networks Inc Declares Special Cash Distribution Of $10.00 Per Share
Sycamore Networks Inc announced that, on September 19, 2012, its Board of Directors approved a special cash distribution of $10.00 per share of common stock. The cash distribution will be paid on October 11, 2012 to stockholders of record as of October 1, 2012. In accordance with NASDAQ Rule 11140(b), the ex-dividend date will be October 12, 2012, the first business day following the payment date for the cash distribution. Full Article
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