Short interest for Hollysys Automation Tech gives investors a sense of the degree to which investors are betting on the decline of Hollysys Automation Tech's stock. Short interest data is updated every two weeks.

Hollysys Automation Tech Stock (NASDAQ:HOLI), Short Interest Report

Hollysys Automation Tech

Hollysys Automation Technologies Ltd is a China-based company that provides automation and control technologies and products. The company operates through three segments. Its IA segment supplies solutions including third-party hardware-centric products, proprietary software products, and others. The Rail segment supplies train control center and automation train protection to the rail and subway industries. The M&E segment consists of its two Southeast Asia-based subsidiaries that provide mechanical and electrical solutions. Hollysys Automation Technologies generates most of its sales from the Chinese domestic market.

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Hollsys Automation Technologies INTERNATIONAL

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Shares of RayzeBio, Inc. (NASDAQ: RYZB) rose sharply during Tuesday’s session after the company announced that it will be acquired by Bristol Myers Squibb for $62.50 per share in cash in a deal worth $4.1 billion.

RayzeBio shares gained 100% to $61.38 on Tuesday.

Why RayzeBio Shares Are Trading Higher By 100%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

Mid Cap

Asset Sales

Hollysys Automation Technologies Ltd (NASDAQ: HOLI) shares are trading higher today as the company got an increased acquisition offer from a buyer Consortium led by 

Dazheng-Led Consortium Raises Hollysys Automation Acquisition Bid to $1.8B, Offers 9% Increase

Pre-Market Outlook

CSIQ

MANU

U.S. stock futures were higher this morning, with the Dow Jones futures gaining more than 40 points on Tuesday.

Gracell Biotechnologies, Stratasys, Hollysys Automation Technologies And Other Big Stocks Moving Higher In Tuesday&#39;s Pre-Market Session

Hollysys Automation Technologies, Ltd. - Common Stock

Hollysys Automation Technologies Ltd

HOLIDAY ISLAND HLDGS INC by Holiday Island Holdings, Inc.

Holiday Island Holdings Inc

HOLISTA COLLTECH LTD ORD by Holista Colltech Ltd.

Holista CollTech Ltd

HOLISTIC ASSET FINANCE GR by Holistic Asset Finance Group Co., Ltd.

Holistic Asset Finance Group Co Ltd

Hollysys Automation Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) reported quarterly earnings of $0.23 per share. This is a 71.25 percent decrease over earnings of $0.80 per share from the same period last year. The company reported $223.72 million in sales this quarter. This is a 8.58 percent decrease over sales of $244.73 million the same period last year.

Earnings

Hollysys Automation Tech Q2 EPS $0.23 Down From $0.80 YoY, Sales $223.72M Down From $244.73M YoY

<ul>
<li>Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value that has been offered to them.</li>
<li>Ascendent is committed to securing regulatory approvals and closing the acquisition expeditiously.</li>
</ul>
HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners ("Ascendent"), a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>)&nbsp;("Hollysys" or the "Company") has announced the voting results of the Company's Extraordinary General Meeting ("EGM") held today. The EGM concluded with the overwhelming majority of Hollysys shareholders approving all resolutions, including the resolution pursuant to which Ascendent will acquire all outstanding shares of Hollysys that it does not currently own for US$26.50 per share in cash.
Leon Meng, Chairman and CEO of Ascendent, commented: "Today marks an important milestone for Hollysys, its investors, management, and staff. Ascendent, with our highest standards of corporate governance, applauds the Special Committee for conducting a transparent, thorough and robust sale process. We also want to thank Hollysys shareholders for their strong support and will work towards securing the required regulatory approvals expeditiously. Today's vote demonstrates that with a solid company in a transparent process, significant buyouts can still be done with the right private equity firms, even in this challenging macro environment and region."
In addition, shareholders at the EGM authorized and approved the appointment of each of Guanghua Miao, Ding Wei and Dennis Demiao Zhu to the board of directors of the Company.

Ascendent Wins Shareholder Support To Acquire All Outstanding Shares Of Hollysys Automation Technologies, That It Does Not Currently Own For $26.50 Per Share In Cash

Hollysys Announces Shareholder Approval Of Merger Agreement With Ascendent, Once Completed Company Says It's Ordinary Shares Would No Longer Be Listed Or Traded

Buyer Consortium will remain committed to acquiring Hollysys at US$29.50 per share after the proposed Ascendent transaction is rejected by shareholders
Buyer Consortium's offer provides more closing certainty than the proposed Ascendent transaction
Urges shareholders to vote AGAINST the proposed Ascendent transaction
Buyer Consortium ("the Consortium") led by Dazheng Group Acquisition Limited ("Dazheng Group") today issued the following statement reaffirming the merits of its offer to acquire Hollysys Automation Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) ("Hollysys").
The Buyer Consortium, led by Dazheng Group, remains extremely motivated to acquire Hollysys at US$29.50 per share. This offer represents a significantly greater value proposition for Hollysys shareholders, providing an 11.3% premium to the Ascendant Capital offer. The Consortium emphasizes to Hollysys shareholders its commitment to acquire Hollysys at US$29.50 per share will remain unchanged by fluctuations in the share price of Hollysys, market conditions, or if the proposed Ascendent transaction is rejected by shareholders at the upcoming Extraordinary General Meeting ("EGM") on February 8, 2024.
The Consortium's offer has enhanced closing certainty relative to the Ascendent offer and is backed by financing ABOVE industry standards. The Consortium has secured a debt commitment letter for US$1.05 billion from a reputable PRC-headquartered bank's Hong Kong branch, which is the same bank that issued a debt commitment letter to Ascendent Capital. Additionally, the Consortium has successfully secured equity commitments totaling US$800 million from Dazheng Group Acquisition Limited and TFI Asset Management Limited. The commitment from Dazheng Group Acquisition Limited is robustly supported by back-to-back equity commitment letters, which have been formally executed by three sponsors as of January 25, 2024. Each sponsor has demonstrated their ability to fulfill their financial commitments by supplying robust proof of funding. This includes bank statements detailing offshore fund balances and/or documentation confirming available funds, all of which have been either officially stamped by the bank or signed by an authorized bank representative. The Consortium has adhered to all reasonable demands of the Special Committee throughout the entirety of this negotiation process, resulting in financing commitments beyond industry standards and, to the Consortium's knowledge, beyond those of Ascendent Capital. Notably, Hollysys has not detailed in its proxy statement the basis on which the Special Committee validated Ascendent Capital's financial capacity, aside from the filing of signed commitment letters.
Beyond being backed by financing above industry standards and requiring less or no regulatory approvals compared to Ascendent transaction, the Consortium highlights it is committed to closing its proposed transaction unless more than 20% of Hollysys shareholders exercise dissenting and appraisal rights under Section 179 of the British Virgin Islands ("BVI") Business Companies Act. This threshold is double that of Ascendent's conditions and reflects the Consortium's confidence in the merits of its proposed deal and dedication to closing the transaction.
The Consortium wishes to highlight to the shareholders that, despite facing challenges in our dealings with the Special Committee, the Special Committee acknowledged in the proxy statement supplement dated January 31, 2024, that negotiations on transaction documents between Hollysys and the Consortium began on January 28, 2024. This acknowledgment implies the Special Committee's recognition of our proposal as superior or reasonably likely to be superior, because otherwise, the Special Committee is prohibited from negotiating documents with the Consortium under the signed merger agreement. Unfortunately, the Special Committee set a stringent deadline of January 29, 2024, for finalizing all aspects of the deal, without considering the possibility of recommending an adjournment of the EGM to shareholders. The Consortium maintains that in order to fully meet their fiduciary duties as dictated by BVI law, the Special Committee should have recommended to the shareholders the adjournment of the EGM. Without the presentation of this option to the shareholders, the shareholders' sole recourse to secure the benefit from an exit at $29.50 per share is to vote AGAINST the Ascendent transaction. Furthermore, should there be any recommendation from the Board or Chairman of the EGM to adjourn the EGM, and such adjournment is approved, the Consortium urges shareholders to require the Board to convene a shareholders meeting to be held at the same time as the adjourned EGM and allow shareholders to consider the Consortium's proposal.
Leading Proxy Advisors, Institutional Shareholder Services ("ISS") and Glass Lewis have recently recommended shareholders vote AGAINST the potential transaction with Ascendent Capital. Both proxy advisors had the following to say in conclusion of its research concerning the sales process and the behavior of the Special Committee:
<ul>
<li>"Given the questionable effort to maximize price, the unreasonably high standard to which Ascendent's main competitor has been held, and the inexplicably truncated process, votes against the proposed transaction are warranted."</li>
<li>"When placed in full context, we believe there is vanishingly small cause for shareholders to endorse an arrangement derived from what we consider to be a flawed, low accountability process seemingly engineered in its later stages to blunt the shareholder franchise and trade potentially materially greater value for deference to a deal with Ascendent on an accelerated basis."</li>
</ul>
Hollysys shareholders have a better alternative than what the Board is currently presenting them. The Consortium urges shareholders to not leave an extra 11.3% on the table by voting AGAINST the proposed Ascendent transaction at the upcoming EGM on February 8, 2024.
The Consortium wishes to remind shareholders interested in exercising dissenting and appraisal rights under Section 179 of the BVI Business Companies Act that they must NOT VOTE FOR the Ascendent transaction. This is essential to safeguard shareholders' appraisal rights, an important aspect notably absent from pages 112-113 of Hollysys's proxy statement in the discussion on "Dissenters' Rights." Furthermore, the Consortium emphasizes that should the Ascendent transaction be rejected by the shareholders, Hollysys will not be required to pay any termination fee to Ascendent as per the terms of the existing merger agreement. Thus, the collective decision of shareholders to vote AGAINST the Ascendent transaction will not adversely affect Hollysys. Instead, it will safeguard a valuable opportunity for every shareholder to achieve an exit at $29.50 per share, following the conversion of the Consortium's offer into a signed merger agreement, which is anticipated to be promptly approved by the shareholders.

Buyer Consortium Led By Dazheng Group Reaffirms Commitment To Acquire Hollysys At $29.50 Per Share

-&nbsp;Special Committee concluded Dazheng proposal was not superior after rigorous negotiations
-&nbsp;Dazheng was unable to provide sufficient assurances around equity financing and last-minute introduction of yet another new member after multiple changes in its consortium composition raised further questions that could not be resolved&nbsp;
-&nbsp;Special Committee&nbsp;strongly disagrees with flawed ISS and Glass Lewis recommendations: a transparent and well-run process has brought the right outcome for shareholders: the Ascendent deal&nbsp;
-&nbsp;Updated proxy materials detailing engagement with Dazheng in recent weeks will be released shortly

Hollysys Rejects Dazheng Proposal, Citing Financing Concerns And Consortium Instability, Endorses Ascendent Deal

As the go-shop period has ended, the &quot;no-shop&quot; provisions in the merger agreement are now in effect.&nbsp;None of the offers received constitutes or would reasonably be expected to result in a superior proposal

Hollysys Reports End Of "Go-Shop" Period Under Merger Agreement With Ascendent Capital Partners

Shares of RayzeBio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryzb#NASDAQ">RYZB</a>) rose sharply during Tuesday&rsquo;s session after the company announced that it will be acquired by Bristol Myers Squibb for $62.50 per share in cash in a deal worth $4.1 billion.
RayzeBio shares gained 100% to $61.38 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>ARB IOT Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arbb#NASDAQ">ARBB</a>) shares rose 270% to $3.4850 after gaining around 18% on Friday.</li>
<li>IMAC Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/back#NASDAQ">BACK</a>) shares jumped 108% to $5.05 after jumping 53% on Friday.</li>
<li>Inspira Technologies Oxy B.H.N. Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iinn#NASDAQ">IINN</a>) jumped 75% to $2.0988 after the company announced 95% accuracy results for HYLA blood sensor.</li>
<li>Gracell Biotechnologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grcl#NASDAQ">GRCL</a>) shares gained 60.3% to $9.92 after AstraZeneca announced plans to buy Gracell Biotechnologies for up to $1.2 billion.</li>
<li>Science 37 Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snce#NASDAQ">SNCE</a>) jumped 52% to $6.62. Science 37 Holdings got notification from Nasdaq indicating the company regained compliance with minimum closing bid price requirement for continued listing.</li>
<li>Volcon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vlcn#NASDAQ">VLCN</a>) rose 49.8% to $0.1483 after jumping around 24% on Friday.</li>
<li>Sight Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sght#NASDAQ">SGHT</a>) gained 48.9% to $5.42.</li>
<li>AERWINS Technologies Inc.(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/awin#NASDAQ">AWIN</a>) gained 36.4% to $0.1637 after the company entered into a letter of intent to form an entity with Helicopter Technology. The company will own 70% and Helicopter Technology will own 30%.</li>
<li>SCWorx Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/worx#NASDAQ">WORX</a>) rose 32% to $2.3349 after the company announced that it signed a definitive agreement and plan of merger with American Environmental Partners.</li>
<li>60 Degrees Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtp#NASDAQ">SXTP</a>) gained 30% to $1.1750 after the company announced IRB approval of its Phase IIA clinical study to evaluate tafenoquine for babesiosis.</li>
<li>Absci Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/absi#NASDAQ">ABSI</a>) jumped 27% to $4.23.</li>
<li>CVRx, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvrx#NASDAQ">CVRX</a>) rose 19% to $29.72. CVRx received FDA approval for expanded labeling of barostim.</li>
<li>Wheels Up Experience Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/up#NYSE">UP</a>) gained 15.5% to $3.66.</li>
<li>GigaCloud Technology Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gct#NYSE">GCT</a>) jumped 13.9% to $16.93.</li>
<li>Fusion Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fusn#NASDAQ">FUSN</a>) rose 13.5% to $7.75.</li>
<li>Tuya Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tuya#NYSE">TUYA</a>) gained 11.9% to $2.2950.</li>
<li>Stratasys Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssys#NASDAQ">SSYS</a>) shares gained 11.1% to $14.57. Stratasys confirmed receipt of unsolicited preliminary proposal from Nano Dimension at $16.50 per share.</li>
<li>Sentage Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sntg#NASDAQ">SNTG</a>) shares gained 10.3% to $1.82 following results for the six months ended June 30, 2023.</li>
<li>Verona Pharma plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrna#NASDAQ">VRNA</a>) rose 10.1% to $19.36.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) gained 9.9% to $22.97.</li>
<li>NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) rose 9.9% to $9.25 after the company unveiled a new smart EV model over the weekend.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) gained 9.5% to $2.52.</li>
<li>Hollysys Automation Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holi#NASDAQ">HOLI</a>) shares gained 6.7% to $27.24 as the company got an increased acquisition offer from a buyer Consortium led by Dazheng Group Acquisition Limited.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>PARTS iD, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/id#NYSE">ID</a>) shares declined 43.3% to $0.0489 after the company entered into a Credit Agreement with Fifth Star.</li>
<li>Milestone Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mist#NASDAQ">MIST</a>) fell 32.2% to $1.9534 after the company announced that it received a Refusal to File letter from the FDA for the New Drug Application for self-administered etripamil nasal spray for the treatment of paroxysmal supraventricular tachycardia.</li>
<li>Prospector Capital Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ldtc#NASDAQ">LDTC</a>) shares fell 30.3% to $2.9218 after jumping around 77% on Friday.</li>
<li>NextPlay Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxtp#NASDAQ">NXTP</a>) shares fell 23.8% to $2.08 after surging over 200% on Friday.</li>
<li>ENDRA Life Sciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ndra#NASDAQ">NDRA</a>) fell 23.6% to $1.91.</li>
<li>Esports Entertainment Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmbl#NASDAQ">GMBL</a>) dipped 23.6% to $5.28.</li>
<li>Banzai International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bnzi#NASDAQ">BNZI</a>) declined 20.7% to $2.75.</li>
<li>Adit EdTech Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adex#NASDAQ">ADEX</a>) shares fell 20.6% to $3.9801. Adit EdTech Acquisition announced intention to voluntarily de-list from NYSE American.</li>
<li>Know Labs, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knw#NYSE">KNW</a>) dipped 19.2% to $0.47. Know Labs filed for mixed shelf of up to $18 million.</li>
<li>Turbo Energy, S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/turb#NASDAQ">TURB</a>) fell 19% to $1.23.</li>
<li>Starbox Group Holdings Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stbx#NASDAQ">STBX</a>) declined 16.2% to $0.2599.</li>
<li>Jin Medical International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zjyl#NASDAQ">ZJYL</a>) fell 15.7% to $116.94 after jumping 94% on Friday.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zim#NYSE">ZIM</a>) declined 15.2% to $9.82.</li>
<li>Vroom, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrm#NASDAQ">VRM</a>) shares fell 14.5% to $0.6295. Vroom filed a preliminary proxy statement with the SEC regarding a special stockholders&#39; meeting to be held on Feb. 5, 2024 to effect a reverse stock split of the company&#39;s common stock at an exchange ratio between 1-for-35 to 1-for-80.</li>
<li>NeoVolta Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neov#NASDAQ">NEOV</a>) fell 14.4% to $1.54.</li>
<li>Journey Medical Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/derm#NASDAQ">DERM</a>) dipped 13.8% to $6.86.</li>
<li>Asset Entities Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asst#NASDAQ">ASST</a>) fell 13.4% to $0.6907 after surging 21% on Friday.</li>
<li>Enlivex Therapeutics Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enlv#NASDAQ">ENLV</a>) fell 11% to $2.57.</li>
<li>FlexShopper, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fpay#NASDAQ">FPAY</a>) fell 9.5% to $1.6191.</li>
<li>BTC Digital Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btct#NASDAQ">BTCT</a>) fell 9.3% to $4.08. BTC Digital announced entry into $1.014 million share subscription agreements in connection with private placement of ordinary shares for the issue and sale of 303,497 ordinary shares of the company, par value $0.06 per share.</li>
<li>Oncternal Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onct#NASDAQ">ONCT</a>) fell 8% to $0.55. Oncternal Therapeutics updated the status of a recent study involving a treatment for relapsed or refractory aggressive B-cell lymphoma, including patients who have failed previous CD19 CAR-T treatment.</li>
<li>Gannett Co., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gci#NYSE">GCI</a>) fell 6.2% to $2.43.</li>
</ul>
&nbsp;
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Why RayzeBio Shares Are Trading Higher By 100%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Hollysys Automation Technologies Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holi#NASDAQ">HOLI</a>) shares are trading higher today as the company got an increased acquisition offer from a buyer Consortium led by&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/b36377346/buyer-consortium-led-by-dazheng-group-announces-enhanced-all-cash-proposal-of-us-29-00-per-share-t" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Dazheng Group Acquisition Limited.</a>
The consortium intends to buy HOLI for $29.00 per share or about $1.8 billion in cash.
The acquisition cost represents a 55.5% premium to HOLI&#39;s closing share price of $18.66 on August 23, 2023, and a 40.8% premium to its closing share price of $20.60 on November 3, 2023.&nbsp;
Notably, the new acquisition price represents a 9.4% increase on the consortium&#39;s previous offer of $26.50 per share (November 8, 2023) and represents a 9.4% higher offer price than Ascendent&#39;s competing offer.
The consortium is aiming to engage with HOLI&#39;s Board, conclude the due diligence process, and pen a merger agreement before January 22, 2024.
In October, HOLI announced the formation of a special committee of the board of directors to conduct&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/10/35030573/why-is-hollysys-automation-technologies-stock-trading-higher-monday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">a formal sale process</a>.&nbsp;
Price Action: HOLI shares are trading higher by 6.19% at $27.10 on the last check Friday.

U.S. stock futures were higher this morning, with the Dow Jones futures gaining more than 40 points on Tuesday.
Shares of Gracell Biotechnologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grcl#NASDAQ">GRCL</a>) shares rose sharply in pre-market trading after AstraZeneca announced plans to buy Gracell Biotechnologies for up to $1.2 billion.
Gracell Biotechnologies shares gained 65.1% to $10.22 in pre-market trading.
Here are some big stocks recording gains in today&rsquo;s pre-market trading session.
<ul>
<li>Manchester United plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/manu#NYSE">MANU</a>) rose 12.2% to $22.25 in pre-market trading. British billionaire Jim Ratcliffe has bought a minority stake in the esteemed football club Manchester United .</li>
<li>Stratasys Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssys#NASDAQ">SSYS</a>) shares gained 9.8% to $14.40 in pre-market trading. Stratasys confirmed receipt of unsolicited preliminary proposal from Nano Dimension at $16.50 per share.</li>
<li>Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) shares climbed 7.8% to $35.79 in pre-market trading. The Wall Street Journal reported that Biden administration is exploring raising tariffs on Chinese EVs.</li>
<li>Hollysys Automation Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holi#NASDAQ">HOLI</a>) shares gained 6.2% to $27.10 in pre-market trading. A buyer consortium led by Dazheng Group proposed enhanced $29 per share all-cash offer to acquire Hollysys.</li>
<li>Helmerich &amp; Payne, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hp#NYSE">HP</a>) shares rose 6.5% to $39.00 in pre-market trading.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) shares rose 5.4% to $9.78 in pre-market trading after gaining 17% on Friday.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) shares rose 4.9% to $1.94 in pre-market trading after falling over 7% on Friday.</li>
<li>Canadian Solar Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csiq#NASDAQ">CSIQ</a>) shares rose 4.4% to $26.53 in pre-market trading.</li>
</ul>
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Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Gracell Biotechnologies, Stratasys, Hollysys Automation Technologies And Other Big Stocks Moving Higher In Tuesday's Pre-Market Session

<ul>
<li>Enhanced proposal is&nbsp;9.4%&nbsp;higher than the Ascendent Capital offer and is backed by secured financing</li>
<li>Ascendent Capital&#39;s proposal does not represent the best value for shareholders</li>
<li>The Consortium has full confidence that the Hollysys Board will deem its enhanced proposal superior and remains ready to enter into a merger agreement</li>
</ul>

Reported Sunday, Buyer Consortium Led By Dazheng Group Proposes Enhanced $29/Share All-Cash Offer To Acquire Hollysys, Deeming It Superior To Ascendent Capital's Bid

WIIM

Hollysys Automation Technologies shares are trading higher after the company announced that it reached an agreement to be acquired by Ascendent Capital Partners through an all-cash transaction valued at approximately $1.66 billion.

Hollysys To Be Acquired By Ascendent Capital Partners For $26.50  Per Share In Cash

Reiterates All-Cash Offer of US$26.50 Per Share while Noting Board is Negotiating a Deal without the Support of Shareholders
Special Meeting Must Happen Prior to Definitive Deal, Any Deal Announced Prior to Special Meeting Will Not Carry the Clear Support of Shareholders
Buyer consortium ("the consortium") led by Recco Control Technology Pte. Ltd. ("Recco Control Technology") and Dazheng Group (Hong Kong) Investment Holdings Company Limited ("Dazheng Group") today reiterates its all-cash proposal of US$26.50 per share for Hollysys Automation Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) ("Hollysys"). This statement comes amidst an announcement of the board of directors ("Board") of Hollysys that has indicated that the special meeting ("Special Meeting") of shareholders requested by certain shareholders on August 24, 2023 will be held in the week of January 22, 2024 following a persistent campaign by the Board to deny shareholders basic rights. Members of the consortium also include TFI Asset Management Limited, and Great Wall Capital Co., Ltd, who have entered into a memorandum of strategic cooperation with Recco Control Technology and Dazheng Group in connection with the proposed acquisition of Hollysys.
The Board continues to take actions that impede or disregard the basic rights and wishes of the shareholders. Announcing the Special Meeting will be held in the week of January 22, 2024 while indicating that the Board hopes to execute a merger agreement by mid-December 2023 is a direct disregard for what the shareholders want and renders the Special Meeting futile. Shareholders are entitled to choose the board of directors, in whom they have trust and confidence, that they wish to run the sales process and the current Board is denying shareholders this basic right at one of the most important times in the Company's history.
Furthermore, as the leading bidder for Hollysys with a bid of $26.50 per share, we have to wonder if the Board is, at the expense of shareholders, seeking once again to create a situation that is more favorable for a management buyout rather than supporting a higher third party bid. Any attempt by the Board to prematurely seal a deal potentially undermines the maximization of shareholder value.
To ensure the sale process is one that is legitimate and maximizes shareholder value rather than one which favors management, the Board must hold the Special Meeting before any binding agreement is reached.
Advisors
UBS AG Hong Kong Branch1 is serving as financial advisor to leaders of the consortium, Recco Control Technology and Dazheng Group. Sullivan &amp; Cromwell LLP and DLA Piper are United States counsels to the consortium. Conyers Dill &amp; Pearman is advising the consortium on BVI law.

Management

Buyer Consortium Led By Recco Control Technology And Dazheng Group Issues Statement On Hollysys' Announced Special Meeting

Hollysys Intends To Hold Special Meeting Of Shareholders In January 2024; Says Special Committee Continues Sale Process In Expedited Manner

Hollysys Automation Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) reported quarterly Adj earnings of $0.52 per share. This is a 40.54 percent increase over earnings of $0.37 per share from the same period last year. The company reported $199.90 million in sales this quarter. This is a 17.56 percent increase over sales of $170.04 million the same period last year.

Hollysys Automation Tech Q1 Adj EPS $0.52 Up From $0.37 YoY, Sales $199.90M Up From $170.04M YoY

Buyer consortium ("the consortium") led by Recco Control Technology Pte. Ltd. ("Recco Control Technology") and Dazheng Group (Hong Kong) Investment Holdings Company Limited ("Dazheng Group") expressed its strong desire for the Special Committee of the board of directors of Hollysys Automation Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) ("Hollysys" or "the Company") to allow the sale process of the Company to move forward for all potential buyers. Members of the consortium also include TFI Asset Management Limited, and Great Wall Capital Co., Ltd.
The consortium urges the Special Committee to carefully evaluate the latest non-binding indicative all-cash offer of US$26.50 per share from the consortium which is the highest among all of the offers submitted, effectively valuing the firm at approximately $1.64 billion, and to allow the consortium to conduct customary due diligence in order to move forward with its proposal. The sales process must be transparent and genuine for all potential bidders for it to be in the best interest of Hollysys shareholders and realize the true value of the Company.
The consortium also calls on the directors of Hollysys to respect the rights of its shareholders and convene the legitimately requested special meeting immediately. As was recognized in Hollysys' statement on October 30, 2023, the directors of Hollysys have received valid requests for a special meeting from shareholders holding more than 30% of the Company as of the demand record date previously set by the board. Ascendent Capital Partners, which holds 13.7% of the shares, has also publicly called on the directors of Hollysys to convene the special meeting. This brings the total shareholders requiring the directors to convene the special meeting to 46%. The right to meet is an unqualified and unfettered absolute right of the shareholders. The directors should convene the special meeting immediately to uphold their fiduciary duties.
The fact that the special meeting has not been convened by the directors is causing the consortium to have serious concerns over Hollysys' conduct of the sale process and the accountability of the directors to their shareholders. It is unprecedented for a board of directors to refuse to voluntarily and timely convene a meeting which nearly half of their shareholders legitimately want held.
Advisors
UBS AG Hong Kong Branch is serving as financial advisor to leaders of the consortium, Recco Control Technology and Dazheng Group. Sullivan &amp; Cromwell LLP and DLA Piper are United States counsels to the consortium. Conyers Dill &amp; Pearman is advising the consortium on BVI law.

Buyer Consortium Led by Recco Control Technology And Dazheng Group Urges The Directors Of Hollysys To Convene The Special Meeting Of Shareholders And The Special Committee To Move Forward With A Transparent And Genuine Sale Process

Offer now represents a 42% premium to Hollysys' undisturbed closing share price on August 23, 2023 and a 28.6% premium to Hollysys' closing share price on November 3, 2023
Further shareholder support for calling of special meeting obligates Hollysys Board to hold special meeting; removing any question about meeting threshold in the articles of association
Buyer consortium ("the consortium") led by Recco Control Technology Pte. Ltd. ("Recco Control Technology") and Dazheng Group (Hong Kong) Investment Holdings Company Limited ("Dazheng Group") announces today that the consortium has submitted an increased all-cash offer of US$26.50 per share, or approximately US$1.64 billion, to acquire all outstanding shares of Hollysys Automation Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLI#NASDAQ">HOLI</a>) ("Hollysys") in a letter sent to the board on November 8, 2023. Members of the consortium also include TFI Asset Management Limited, and Great Wall Capital Co., Ltd, who have entered into a memorandum of strategic cooperation with Recco Control Technology and Dazheng Group in connection with the proposed acquisition of Hollysys. The consortium has engaged in constructive negotiation with lenders and is at the final stage to secure a binding and definitive commitment in support of the offer.
The new US$26.50 per share offer from the consortium represents:
<ul>
<li>A 42% premium to Hollysys' closing share price of US$18.66 on August 23, 2023 – the undisturbed price before the consortium resubmitted its previous bid to the Company on August 24;</li>
<li>A 28.6% premium to Hollysys' closing share price of US$20.60 on November 3, 2023 – the undisturbed price before Ascendent Capital announced its takeover offer on November 6; and</li>
<li>An increase in price of 6% from the consortium's previous offer of US$25 per share, which was presented to the Board on August 24, 2023.</li>
</ul>
"The consortium's decision to increase our offer to US$26.50 per share is underpinned by our steadfast pursuit of acquiring Hollysys and our motivation to be competitive in a transparent and genuine sale process," commented Mr. Ke Lei, director of Recco Control Technology Pte. Ltd. "We believe that this offer, which is at a compelling premium and is backed by our unquestionable confidence in securing financing, represents an unparalleled opportunity for Hollysys' shareholders to maximize the value of their shares swiftly and with certainty."
The consortium is aware that on November 6, Ascendent Capital Partners – who owns 13.7% of the Company – expressed its support for the special meeting first requested by over 32% of the Company's shareholders to the Board on August 24, 2023. Ascendent has publicly requested that the Board hold the special meeting by December 1, 2023. Shareholders holding 46% of the shares are now demanding that the Board convene the requested special meeting.
This action by Hollysys' largest shareholder appears to be echoing our earlier advocacy and is reflective of shareholders' desire, and fundamental right, to have an independent Board in place that was elected by the shareholders themselves. It also invites the obvious question whether the existing Board has any legitimacy in representing its shareholders after refusing to voluntarily convene the special meeting its own shareholders have requested.
Mr. Ke Lei continued, "Most importantly, with 46% shareholder support now publicly affirmed, it is overwhelmingly clear that the Hollysys Board must immediately move forward with the calling of the special meeting to consider the agenda which was first put to the Board on August 24, 2023. Any further delay by the Board is indefensible. The path forward is clear: a special meeting to elect a Board that truly represents the shareholders' interests is fundamental to ensuring a fair and effective strategic review."
The consortium urges the Company's board of directors to listen to the voice of nearly half its shareholders. The Board must respect the rights of its shareholders and convene the legitimately requested special meeting without further delay. A transparent and thorough sale process should be led by independent directors who represent, and are elected by, Hollysys shareholders. This is the best way to ensure value is maximized for all shareholders.

Buyer Consortium Led By Recco Control Technology And Dazheng Group Increases Its Offer To Acquire Hollysys To $26.50 Per Share

<h3>Gainers</h3>
<ul>
<li>Carbon Revolution Public Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crev#NASDAQ">CREV</a>) shares jumped 396.2% to $145.49 after gaining 100% on Friday. The company&rsquo;s stock began trading on Friday following merger with Twin Ridge Capital Acquisition Corp.</li>
<li>Bluegreen Vacations Holding Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bvh#NYSE">BVH</a>) gained 105.8% to $73.11 after the company announced it would be acquired by Hilton Grand Vacations at $75 per share.</li>
<li>Verb Technology Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verb#NASDAQ">VERB</a>) shares climbed 59.5% to $0.4086 amid the company announcing new technology integrations for its MARKET.live platform.</li>
<li>MSP Recovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lifw#NASDAQ">LIFW</a>) jumped 34.7% to $3.69.</li>
<li>Digital Brands Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbgi#NASDAQ">DBGI</a>) shares gained 34.3% to $5.87 after the company announced review of strategic alternatives.</li>
<li>Cardio Diagnostics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdio#NASDAQ">CDIO</a>) jumped 32.7% to $0.4971.</li>
<li>Organigram Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ogi#NASDAQ">OGI</a>) gained 28.8% to $1.48 after the company announced a C$124.6 million investment from BAT and the creation of &quot;Jupiter&quot; strategic investment pool.</li>
<li>Cheetah Net Supply Chain Service Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctnt#NASDAQ">CTNT</a>) rose 26% to $1.45.</li>
<li>Celldex Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldx#NASDAQ">CLDX</a>) gained 23.5% to $32.09 after the company announced data from its phase 2 trial treating urticaria refractory.</li>
<li>RiskOn International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/roi#NASDAQ">ROI</a>) climbed 23.2% to $0.8499.</li>
<li>Napco Security Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nssc#NASDAQ">NSSC</a>) surged 20.8% to $22.72 following strong quarterly sales.</li>
<li>Freshpet, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frpt#NASDAQ">FRPT</a>) gained 20.2% to $69.99. Freshpet reported third-quarter FY23 sales growth of 32.6% year-on-year to $200.60 million, beating the analyst consensus estimate of $194.11 million.</li>
<li>reAlpha Tech Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aire#NASDAQ">AIRE</a>) gained 20% to $10.79.</li>
<li>PainReform Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prfx#NASDAQ">PRFX</a>) climbed 18.7% to $2.79</li>
<li>Indaptus Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indp#NASDAQ">INDP</a>) gained 18.4% to $2.9605 after the company announced interim data from first cohort of four patients in Phase 1 INDP-D101 trial of Decoy20.</li>
<li>GDEV Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdev#NASDAQ">GDEV</a>) climbed 18% to $2.75.</li>
<li>CBL International Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/banl#NASDAQ">BANL</a>) climbed 15.4% to $1.9274.</li>
<li>POSCO Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pkx#NYSE">PKX</a>) shares jumped 15.1% to $96.02 after South Korea banned short selling through the first half of 2024.</li>
<li>Global Mofy Metaverse Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmm#NASDAQ">GMM</a>) gained 13.8% to $13.76.</li>
<li>Caribou Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crbu#NASDAQ">CRBU</a>) climbed 12.5% to $4.7050.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gyre#NASDAQ">GYRE</a>) rose 11.5% to $7.20.</li>
<li>Procaps Group S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/proc#NASDAQ">PROC</a>) gained 10.1% to $3.15.</li>
<li>BEST Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/best#NYSE">BEST</a>) shares rose 9.2% to $2.61. BEST announced receipt of a preliminary non-binding proposal to acquire the company.</li>
<li>Near Intelligence, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nir#NASDAQ">NIR</a>) rose 9% to $0.1866 after gaining over 10% on Friday.</li>
<li>Genie Energy Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gne#NYSE">GNE</a>) gained 8.8% to $22.08 following third-quarter results.</li>
<li>BeiGene, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgne#NASDAQ">BGNE</a>) shares rose 8.6% to $199.74 amid reports China may introduce new fiscal stimulus.</li>
<li>Prime Medicine, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prme#NASDAQ">PRME</a>) gained 7% to $8.35 following third-quarter results.</li>
<li>Hollysys Automation Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holi#NASDAQ">HOLI</a>) climbed 6.8% to $22.00. Advanced Technology proposed non-binding, all-cash offer of $26 per share, which valued Hollysys at approximately $1.61 billion.</li>
<li>Li-Cycle Holdings Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/licy#NYSE">LICY</a>) rose 6.3% to $1.8499 after gaining 8% on Friday.</li>
<li>Ryanair Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ryaay#NASDAQ">RYAAY</a>) shares gained 5.7% to $99.66 after the company posted earnings for the first half of its financial year and projects to report a record profit for the year to end March.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>MoonLake Immunotherapeutics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mltx#NASDAQ">MLTX</a>) shares fell 24.1% to $38.92 after the company announced results of its phase 2 study treating active Psoriatic Arthritis.</li>
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/whlr#NASDAQ">WHLR</a>) dipped 23.6% to $0.3902.</li>
<li>DISH Network Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dish#NASDAQ">DISH</a>) fell 19% to $4.4496 after the company reported third-quarter results. On Nov. 3, 2023, W. Erik Carlson notified DISH that he intends to resign as the CEO effective Nov. 12, 2023.</li>
<li>EchoStar Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sats#NASDAQ">SATS</a>) fell 18.1% to $12.64 after the company reported worse-than-expected third-quarter sales.</li>
<li>Astra Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/astr#NASDAQ">ASTR</a>) shares fell 17.2% to $0.7602. Astra Space is expected to report financial results for its third quarter after market close on Nov. 13, 2023.</li>
<li>Dogness (International) Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dogz#NASDAQ">DOGZ</a>) fell 15.8% to $0.2550. Dogness announced a 1-for-20 Class A common share consolidation.</li>
<li>Acutus Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afib#NASDAQ">AFIB</a>) declined 14.7% to $0.5201.</li>
<li>Kaixin Auto Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kxin#NASDAQ">KXIN</a>) fell 14.6% to $2.99 after the company posted unaudited financial results for the six months ended June 30, 2023 and announced resignation of Director.</li>
<li>Benson Hill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhil#NYSE">BHIL</a>) shares fell 13.9% to $0.3435 after surging 58% on Friday.</li>
<li>Acurx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acxp#NASDAQ">ACXP</a>) fell 11.6% to $2.8992 after declining around 14% on Friday.</li>
<li>American Well Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amwl#NASDAQ">AMWL</a>) fell 11.3% to $1.26.</li>
<li>Benson Hill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhil#NYSE">BHIL</a>) declined 11% to $0.3550.</li>
<li>Tecnoglass Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgls#NYSE">TGLS</a>) fell 10.5% to $30.67 after the company reported third-quarter financial results and updated guidance.</li>
<li>Conifer Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cnfr#NASDAQ">CNFR</a>) declined 9.9% to $1.00.</li>
<li>Hilton Grand Vacations Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hgv#NYSE">HGV</a>) fell 9.9% to $33.54. Hilton Grand Vacations reported a third-quarter FY23 sales decline of 8.8% year-on-year to $1.02 billion, missing the analyst consensus estimate of $1.05 billion. The company entered into a definitive agreement to acquire Bluegreen Vacations for $75 per share in an all-cash transaction.</li>
<li>Collective Audience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/caud#NASDAQ">CAUD</a>) fell 7.1% to $5.85 after falling around 77% on Friday.</li>
</ul>
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Advanced Technology Proposed Non-Binding, All-Cash Offer Of $26/Share, Which Values Hollysys At Approximately $1.61B

Additionally, the Special Committee and its advisors are considering bids submitted by Recco Control Technology and Dazheng Group (Hong Kong) Investment Holdings Company (collectively, the &quot;Recco Consortium&quot;) and by representatives of the Hollysys management team. It is engaged in ongoing discussions with both groups and will provide updates on material developments as soon as practicable.&nbsp;Following the injunction hearing on&nbsp;November 21, 2023, the Company will re-assess promptly whether to convene a special meeting.

Hollysys Says Board Special Committee Receives Several Indications Of Interest From Financial Sponsors And Strategic Buyers

Hollysys gets shareholders' nod for merger with Ascendent

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HollySys Automation Non-GAAP EPS of $0.23, revenue of $223.7M

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Hollysys falls amid report about Chinese review of sale to Ascendent

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Press Releases

Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners

HOLLYSYS AUTOMATION INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Hollysys Automation Technologies Ltd. - HOLI

Hollysys Engages With Buyer Consortium Led by Dazheng Group Following Recommendations Against Ascendent Transaction from Leading Proxy Advisors

Hollysys Reiterates Strong Support for Ascendent Deal; Provides Update on Engagement with Dazheng

Hollysys Recommends Shareholders Vote FOR Ascendent Transaction to Secure Compelling Value

Dazheng Group Reaffirms Commitment to Acquire Hollysys Automation Technologies at US$29.50 per share and Urges Shareholders to Vote Against the Lower Priced Ascendent Transaction

Dazheng Group Reaffirms Commitment to Acquire Hollysys at US$29.50 Per Share

Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent

Ascendent Wins Overwhelming Shareholder Support to Acquire Hollysys for US$26.50 Per Share

Hollysys Automation Technologies Reports Unaudited Financial Results for the Second Quarter and the First Half Year Ended December 31, 2023

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Hollysys Automation Tech Stock (NASDAQ:HOLI), Short Interest Report

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