Key Developments For Aware Inc
Aware Inc (AWRE.O) (Consolidated Issue listed on NASDAQ Global Market)
Aware, Inc. To Sell Home Networking And DSL Technology To Lantiq Broadband Holdco, Inc. And Lantiq Deutschland GmbH (Lantiq).
Aware, Inc. announced that it has agreed to sell assets associated with its Home Networking and DSL product lines for $6.75 million to Lantiq Broadband Holdco, Inc. and Lantiq Deutschland GmbH (Lantiq). The sale includes Aware, Inc.'s home networking and digital subscriber line (DSL) technology and related fixed assets, an approximately 40 person silicon IP development team, and certain patents relating to these technologies.
Aware, Inc. Appoints Michael A. Tzannes, As Chairman
Aware, Inc. reported that Michael A. Tzannes, Chief Executive Officer and a Director of Aware, has elected to the position of Chairman by the Aware Board of Directors. Mr. Tzannes will replace John K. Kerr, who recently resigned as Chairman of the Board of Directors of Aware, effective May 20, 2009. Mr. Kerr will remain on the Board as a Director.
Aware, Inc. Announces Final Results of Dutch Auction Tender Offer
Aware, Inc. announced the final results of its modified Dutch Auction tender offer, which expired on April 17, 2009. In accordance with the terms and conditions of the tender offer, the Company has accepted for purchase 3,500,252 shares of its common stock (including the associated preferred share purchase rights) at a purchase price of $2.50 per share, for a total cost of $8,750,630 (excluding fees and expenses relating to the tender offer). The shares accepted for purchase represent approximately 15% of Company's outstanding shares of common stock as of April 22, 2009.
Aware, Inc. Announces Preliminary Results of Dutch Auction Tender Offer
Aware, Inc. announced that in accordance with the terms and conditions of the tender offer, and based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, Aware expects to purchase approximately 3,696,072 shares of its common stock (including the associated preferred share purchase rights) at a price of $2.60 per share, for a total cost of approximately $9.6 million (excluding fees and expenses relating to the tender offer). The approximately 3,696,072 shares expected to be purchased are comprised of the 3,500,000 shares Aware offered to purchase and approximately 196,072 shares to be purchased pursuant to Aware's right to purchase up to an additional 2% of the shares outstanding immediately prior to the commencement of the tender offer. The approximately 3,696,072 shares expected to be purchased represent approximately 15.8% of the shares outstanding on April 17, 2009.
Aware, Inc. Amends And Extends Dutch Auction Tender Offer
Aware, Inc. announced that it has amended and extended its modified Dutch Auction tender offer. As a result of comments and a request from the Securities and Exchange Commission, Aware has agreed to narrow the price range of the tender offer to between $2.20 and $2.60 per share. Originally, the minimum purchase price was $1.80 per share. Aware has also extended the expiration date for the tender offer to April 17, 2009.
