Transphorm (TGAN) has issued an update.
Transphorm, Inc. has finalized a merger, resulting in a significant shift in its financial and operational structure. Shareholders of Transphorm’s common stock, excluding specified exceptions, now have their shares converted into a cash entitlement, while outstanding stock options and warrants have been settled in cash or canceled, depending on their exercise price relative to the share price. The company has also communicated the completion of the merger to Nasdaq, initiating the delisting of its common stock and planning to terminate its registration and reporting obligations. This strategic move has led to changes in the board of directors and executive team, with new appointments taking effect immediately.
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