Spansion (SPSN) Bouncing Off Its 52-Week Low
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Spansion (Nasdaq: SPSN) is up $0.40 or 9% today and trading at $4.55. Spansion is coming off its 52-week low of $4.13. Spansion has a lot more to move to reach its 52-week high of $15.10.
On Thursday, Spansion and Saifun Semiconductors (Nasdaq: SFUN) executed an amendment to their merger agreement under which the cash distribution will be increased by about $31.4 million to $6.05 per share in cash, based on Saifun's current capitalization.
The companies said the cash distribution will be funded solely from Saifun's existing cash on hand prior to or on the closing of the transaction.
Spansion engages in the design, development, manufacture, and marketing of flash memory products and solutions worldwide.
Saifun is an Israel-based provider of intellectual property solutions for the non-volatile memory market.
On Thursday, Spansion and Saifun Semiconductors (Nasdaq: SFUN) executed an amendment to their merger agreement under which the cash distribution will be increased by about $31.4 million to $6.05 per share in cash, based on Saifun's current capitalization.
The companies said the cash distribution will be funded solely from Saifun's existing cash on hand prior to or on the closing of the transaction.
Spansion engages in the design, development, manufacture, and marketing of flash memory products and solutions worldwide.
Saifun is an Israel-based provider of intellectual property solutions for the non-volatile memory market.
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