StockMarketWire.com - LED systems company ProPhotonix said it had agreed to a $11.6 million merger bid by Exaktera, and would recommend it shareholders accept the offer.

Under the terms of the merger agreement, stockholders would be entitled to receive $0.117 for each share of ProPhotonix common stock.

The offer price represented an approximately 54.6% premium over the thirty trading day average closing price of the company's Common Stock on the OTC market of $0.076 ending on 9 November 2021.

The acquisition wold require the backing of shareholders at a meeting on on 15 December 2021.


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