Lumera (LMRA) Shareholders Approve Merger with GigOptix LLC
Lumera Corporation (NASDAQ: LMRA) announced that its merger with GigOptix LLC was approved by its stockholders at the annual meeting of stockholders held this morning. The closing of the merger is expected to occur on December 9 and the new combined entity will be called GigOptix, Inc. All proxy proposals were voted in favor by at least 54% of the total outstanding shares of Lumera’s common stock.
Upon closing, each issued and outstanding share of Lumera common stock will be converted into 0.125 shares of the common stock of the surviving company GigOptix, Inc. The shares of GigOptix, Inc. will begin trading on December 10 on the OTC Bulletin Board, which is not a national securities exchange. A press release will be issued when a trading symbol has been assigned by the OTCBB.
The company designs electro-optic components based on proprietary polymer compounds for the telecommunications and computing industries.[SM]
Upon closing, each issued and outstanding share of Lumera common stock will be converted into 0.125 shares of the common stock of the surviving company GigOptix, Inc. The shares of GigOptix, Inc. will begin trading on December 10 on the OTC Bulletin Board, which is not a national securities exchange. A press release will be issued when a trading symbol has been assigned by the OTCBB.
The company designs electro-optic components based on proprietary polymer compounds for the telecommunications and computing industries.[SM]
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