MoSys (MOSY) Shareholders Vote to Approve Merger with Peraso Technologies
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MoSys, Inc. (NASDAQ: MOSY), a provider of high-speed semiconductor solutions, today announced that MoSys stockholders approved the proposed business combination (the "Arrangement") with Peraso Technologies Inc. ("Peraso"), a global leader in the development of 5G mmWave silicon devices, at the special meeting of stockholders reconvened on December 1, 2021.
At the special meeting, approximately 94% of the stockholders present or represented by proxy approved the Arrangement and approximately 79% of the stockholders present or represented by proxy approved the amendment and restatement to the Company's stock incentive plan, as further described in the Company's definitive proxy statement filed with the United States Securities and Exchange Commission (the "SEC") on October 18, 2021. Although approximately 84% of the stockholders present or represented by proxy voted for a proposed reverse split of MoSys' issued and outstanding shares of common stock, the total number of votes was not sufficient to approve the proposal and, as a result, MoSys will not pursue stockholder approval of such proposal nor proceed with a reverse split.
MoSys and Peraso continue to work diligently towards closing the Arrangement and plan to proceed with the closing as soon as practicable following the satisfaction of all remaining closing conditions.
Additional information regarding the results of the special meeting of stockholders will be available in a current report on Form 8-K to be filed with the SEC.
About MoSys, Inc.
MoSys, Inc. (NASDAQ: MOSY) provides both integrated circuits (ICs) and intellectual property (IP) solutions that enable fast, intelligent data access and decision making for a wide range of markets. MoSys' primary product line is marketed under the Accelerator Engine name and includes the Bandwidth Engine IC products, which integrate its proprietary, 1T-SRAM high-density embedded memory and a highly efficient serial interface protocol resulting in a monolithic memory IC solution optimized for memory bandwidth and transaction access performance. In 2020, MoSys began offering for license its initial Virtual Accelerator Engine IP, which consists of software, firmware and related IP. The Virtual Accelerator Engine IP include multiple function accelerator platform products, which target specific application functions, initially Packet Inspection for routing, security and operations, and will use a common software interface to allow performance scalability over multiple hardware environments. For additional information on MoSys, Inc., please visit www.mosys.com.
Bandwidth Engine, MoSys and 1T-SRAM are registered trademarks of MoSys, Inc. in the US and/or other countries. The MoSys logo is a trademark of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward-looking statements." These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "strategy," "goal," or "planned," "seeks," "may," "might," "will," "expects," "intends," "believes," "should," and similar expressions, or the negative versions thereof, and which also may be identified by their context. All statements that address the development of the events, the operating results of the combined company, and the ability to satisfy the closing conditions to the Arrangement in a timely manner, if at all, that are not otherwise historical facts, are forward-looking statements. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. MoSys disclaims any intention to, and undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which MoSys hereafter become aware, unless required by law.
Jim Sullivan, CFO
Investor Relations Contact:
Leanne K. Sievers | Jeffrey Schreiner
949-224-3874 | 512-243-8976
SOURCE: MoSys, Inc.
View source version on accesswire.com:
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