Benzinga's Microcap Movers for Thursday October 18, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of A123 Systems (NASDAQ: AONE), the Waltham, MA manufacturer of advanced lithium-ion batteries and energy storage systems, rose 36.36% Thursday on 5 times average volume.
A123 Systems won court approval Thursday to borrow up to $15.5 million from Johnson Controls as it prepares the sale of its automotive-business assets to JCI for $125 million.
A123 Systems filed for bankruptcy earlier this week.
A123 Systems closed at $0.87 on Thursday.
NovaCopper (NYSE: NCQ), the Vancouver, BC base metals exploration company, rose 21.29% Thursday on 3.5 times average volume.
NovaCopper announced Wednesday additional significant results from exploration diamond drilling at the South Reef Zone of the Bornite Property, one of its Upper Kobuk Mineral Projects located in the Ambler mining district of Northwest Alaska. This is the third set of drill results, comprised of five drill holes, and is in addition to the six drill holes which were released by the Company on September 12, 2012 and the four drill holes which were released by the Company on September 25, 2012.
During the recently completed drilling program, the Company drilled 22 holes at the South Reef Zone of the Bornite Property comprising 15,457 meters. Additional drill results are anticipated to be released regularly over the next couple of months, as they become available.
NovaCopper closed at $2.45 on Thursday.
Shares of Cybex International (NASDAQ: CYBI), the Medway, MA fitness equipment products manufacturer, rose 81.48% Thursday on 35 times average volume.
Cybex International announced Wednesday that its board of directors has authorized the Company to enter into a “going private” merger agreement pursuant to which each of its outstanding shares of common stock - other than shares owned by its largest shareholder, UM Holdings, Ltd., and UM's subsidiaries and shareholders, which include John Aglialoro, Cybex's chairman and CEO, and Joan Carter, a director of the Company – will be converted into $2.55 per share payable in cash.
This transaction will be effectuated by means of a merger of a newly-formed, wholly-owned subsidiary of UM into Cybex pursuant to an Agreement and Plan of Merger. Following this merger, the Company will be solely owned by UM, Mr. Aglialoro and Ms. Carter, who currently collectively own approximately 49.5% of the Company's common stock.
Cybex International closed at $2.45 on Thursday.
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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.