MIPS Technologies, Inc.
MIPS, a leading provider of industry-standard processor architectures
and cores for home entertainment, networking, mobile and embedded
applications, today announced that each holder of MIPS common stock will
receive $6.21 in cash and 0.226276 shares of MIPS' common stock in the
previously announced proposed recapitalization.
As a result, the aggregate net proceeds to each holder of MIPS common stock,
following the consummation of the previously announced proposed patent sale
transaction with Bridge Crossing, LLC, the proposed recapitalization and the
proposed acquisition by Imagination Technologies Group plc IMG (in which
each share of MIPS' common stock, after giving effect to the patent sale and
recapitalization, will receive merger consideration equal to $1.80 per share)
has increased to $8.01 (U.S.) per share in cash.
The transactions remain subject to MIPS stockholder approval and other
customary closing conditions. The MIPS annual meeting of stockholders to
approve the transactions has been scheduled for February 6, 2013.
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