In a pre-earnings report shockwave, Ennostar (3714) has announced a strategic acquisition to bolster its value-driven application capabilities. The company aims to increase its current 53.69% stake in ProLight Opto Technology Corp. (5277) to 100%. Management emphasized that regardless of whether the acquisition reaches 100% ownership, they will continue pushing ProLight Opto to terminate over-the-counter (OTC) trading and halt public issuance in the future.
Acquisition Details
Ennostar will hold a press conference to officially announce the acquisition of ProLight Opto through its wholly-owned subsidiary, WeiBang Investment. The acquisition aligns with Ennostar’s long-term “3+1” development strategy, which focuses on automotive, advanced displays, intelligent sensing, and professional lighting & optical communications. The company hopes that this public acquisition will further deepen the strategic collaboration synergies between ProLight Opto and the Ennostar group.
The acquisition deal includes an offer price of NT$9 per share for ProLight Opto‘s common stock. The public tender offer will run from 9:00 AM on February 24 to 3:30 PM on March 25. The maximum number of shares to be acquired is 31,521,840 common shares of ProLight Opto, representing the remaining 46.31% stake that Ennostar does not already own. The minimum acquisition target is 3,403,100 shares, approximately 5% of the total issued common stock of ProLight Opto.
Ennostar stated that if the minimum acquisition number is met, the deal will proceed according to plan. The ultimate goal is to gain full ownership of ProLight Opto. If the total ownership does not reach 100%, Ennostar will continue to use legal and appropriate means to purchase the remaining shares at the same tender offer price, aiming to privatize ProLight Opto, terminate its OTC listing, and stop its public issuance.
About ProLight Opto Technology Corp.
Founded in 2004, ProLight Opto joined the Ennostar group in 2021. The company has leveraged the advantages of Ennostar’s upstream LED chip and die supply to focus on the development of compound semiconductor technologies. Specializing in high-power LED packaging, ProLight Opto offers a range of LED light sources for general lighting, automotive lighting, plant lighting, and UV applications. They provide comprehensive solutions and services to meet the diverse needs of their customers.
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