Kontron AG, Bsquare To Consummate Merger - Quick Facts

(RTTNews) - Kontron AG and Bsquare Corp. (BSQR) announced the successful completion of the tender offer by Kontron Merger Sub., Inc., an indirect subsidiary of Kontron, to acquire all of the outstanding shares of common stock of Bsquare, for $1.90 per share. The companies said all conditions to the offer have been satisfied.

As of the expiration time, approximately 14,093,157 shares were validly tendered and not validly withdrawn in the offer, representing approximately 70.9% of the total outstanding shares as of the expiration time and an additional 386,424 shares were tendered pursuant to guaranteed delivery procedures, representing an additional approximately 1.9% of total outstanding shares at the expiration time.

The companies expect to consummate the merger on or about December 7, 2023. The remaining outstanding shares will be converted into the right to receive $1.90 per share. Bsquare will become a wholly-owned, indirect subsidiary of Kontron and Bsquare common stock will cease trading on NASDAQ.