Key Developments For InFocus Corp
InFocus Corporation Delists From NASDAQ-Stock Exchange
The Stock Exchange reported that InFocus Corporation has been delisted from NASDAQ.
InFocus Corporation Appoints Hui As President-Form 8-K
InFocus Corporation reported in its Form 8-K that Hui was appointed as President, Secretary and Treasurer of the Company.
InFocus Corporation Acquired Through Short-Form Merger
Image Holdings Corporation announced the completion of the merger of IC Acquisition Corp. (ICAC) with and InFocus Corporation. The merger follows the previously announced completion of the tender offer by ICAC for all of the outstanding shares of InFocus common stock, at a purchase price of $0.95 per share. In the merger, all shares of InFocus common stock not purchased in the tender offer (other than shares of common stock held by Image Holdings, ICAC, InFocus or any of their respective subsidiaries) were converted into the right to receive an amount of cash equal to $0.95 per share, without interest and subject to any required withholding of taxes. As a result of the merger, InFocus has become a wholly owned subsidiary of Image Holdings. InFocus common stock will now cease to be traded on the NASDAQ Global Market, and InFocus has notified NASDAQ of its intent to withdraw the listing of its common stock.
Image Holdings Completes Tender Offer for Shares of InFocus Corporation
Image Holdings Corporation, an Oregon corporation indirectly owned by John Hui, announced the successful completion of the tender offer by its wholly owned subsidiary, IC Acquisition Corp., to purchase all of the outstanding shares of common stock of InFocus Corporation. The tender offer expired on May 22, 2009. The depositary for the tender offer has advised Image Holdings that a total of 37,338,451 shares of InFocus common stock were validly tendered and not validly withdrawn upon expiration of the offering period of the Offer, which represents approximately 91.0% of all InFocus` outstanding shares of common stock. IC Acquisition Corp. has accepted for payment all InFocus shares validly tendered and not validly withdrawn in the tender offer. In order to complete the acquisition of InFocus, IC Acquisition Corp. intends to effect a short-form merger as soon as legally permissible, without a meeting of the shareholders of InFocus, after which IC Acquisition Corp. will merge with and into InFocus, with InFocus becoming a wholly owned subsidiary of Image Holdings. In the merger, each outstanding share of InFocus common stock that is not owned by Image Holdings, IC Acquisition Corp., InFocus or any of their respective subsidiaries will be converted into the right to receive the same $0.95 per share, without interest and subject to any required withholding of taxes, that was paid in the tender offer.
InFocus Corporation Launches Beta Program to Test Interactive Projectors in the Classroom
InFocus Corporation announced that it is collaborating with the Plano Independent School District in Plano, Texas to enhance interaction in classrooms by using projectors with built in whiteboard capability.
