Benzinga's Microcap Movers for Tuesday October 16, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
New Frontier Media
Shares of New Frontier Media (NASDAQ: NOOF), the Boulder, CO provider of transactional television services and a distributor of general motion picture entertainment, rose 53.85% Tuesday on 25 times average volume.
New Frontier Media announced Monday that the Company has signed a definitive agreement to be acquired by LFP Broadcasting, LLC, an affiliate of L.F.P., Inc., the company founded and headed up by Larry Flynt, for $2.02 per common share in cash up front, or approximately $33 million, plus a contingent cash payment right for each common share. The acquisition price represents approximately a 79% premium to New Frontier Media's closing stock price on March 8, 2012, the day before New Frontier Media received a publicly-announced unsolicited acquisition proposal. The acquisition is expected to close during the fourth quarter of 2012. New Frontier Media closed at $2.00 on Tuesday.
DayStar Technologies (NASDAQ: DSTI), the Milpitas, CA manufacturer of low-cost, high performance, CIGS thin film photovoltaic products, rose 40.31% Tuesday on 23 times average volume.
DayStar Technologies announced Tuesday the purchase of solar projects from Avatar Solar of Simi Valley, California for $850,000. DayStar's acquisition is a first step and it's for the Avatar Solar's Hawaiian-based projects. This is a cash and equity deal that prices DayStar's common equity at $2.00 per share.
DayStar Technologies closed at $1.81 on Tuesday.
Shares of Identive Group (NASDAQ: INVE), the Santa Ana, CA provider of products and services for the identification, security and RFID industries, rose 22.86% Tuesday on 59 times average volume.
Identive Group a provider of products and services for the identification, security and RFID industries, announced Tuesdaya new smart card reader for Apple (NASDAQ: AAPL) mobile devices that allows iPad, iPhone and iMac users to authenticate themselves to secure networks, websites and payment systems using their smart chip-based IDs or credit cards. The initial version of the reader is targeted at the U.S. government and worldwide enterprise markets.
Identive Group closed at $1.29 on Tuesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.