MoSys shareholders approve business combination with Peraso Technologies
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SAN JOSE, CA / ACCESSWIRE / December 2, 2021 / MoSys, Inc. (NASDAQ: MOSY) (“MoSys” or the “Company”), a provider of high-speed semiconductor solutions, today announced that MoSys shareholders have approved the proposed business combination (the “Arrangement”) with Peraso Technologies Inc. (“Peraso”), a world leader in the development of 5G mmWave silicon devices, at the special meeting of shareholders reconvened on December 1, 2021.
At the Special Meeting, approximately 94% of the shareholders present or represented by proxy approved the Arrangement and approximately 79% of the shareholders present or represented by proxy approved the modification and reformulation of the Company’s stock-based incentive plan. , as described in more detail in the Company’s final document. proxy statement filed with the United States Securities and Exchange Commission (the “SEC”) on October 18, 2021. Although approximately 84% of shareholders present or represented by proxy voted in favor of a proposed stock split issued and outstanding common shares of MoSys shares, the total number of votes was not sufficient to approve the proposal and, therefore, MoSys will not seek shareholder approval of this proposal nor will it undertake any consolidation of the proposal. ‘actions.
MoSys and Peraso continue to work diligently on closing the Arrangement and plan to proceed with the closing as soon as possible after all remaining closing conditions have been satisfied.
Additional information regarding the results of the special meeting of shareholders will be available in a current report on Form 8-K to be filed with the SEC.
About MoSys, Inc.
MoSys, Inc. (NASDAQ: MOSY) provides both integrated circuits (ICs) and intellectual property (IP) solutions that enable fast, intelligent data access and decision making for a wide range of markets. MoSys’ main product line is marketed under the Accelerator Engine name and includes Bandwidth Engine IC products, which integrate its proprietary 1T-SRAM high density onboard memory and highly efficient serial interface protocol resulting in a monolithic memory IC solution. optimized for memory bandwidth and transaction access performance. In 2020, MoSys began licensing its initial Virtual Accelerator Engine IP, which consists of software, firmware, and an associated IP. Virtual Accelerator Engine IP includes multi-function accelerator platform products, which target specific application functions, initially packet inspection for routing, security and operations, and will use a common software interface to allow scalable performance across multiple hardware environments. For more information about MoSys, Inc., please visit www.mosys.com.
Bandwidth Engine, MoSys, and 1T-SRAM are registered trademarks of MoSys, Inc. in the United States and / or other countries. The MoSys logo is a trademark of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the “Safe harbor” created by these sections. All statements in this press release that are not based on historical fact are “forward-looking statements”. These statements can be identified by words such as “estimates”, “anticipates”, “projects”, “plans”, “strategy”, “objective” or “planned”, “seeks”, “may”, “could”, “Will”, “expects”, “intention”, “believes”, “should” and similar expressions, or their negative versions, and which can also be identified by their context. All statements which deal with the development of events, the results of operations of the Combined Company and the ability to meet the conditions of closing of the Arrangement in a timely manner, if at all, that are not otherwise historical facts, are forward-looking statements. . Therefore, investors should not rely on forward-looking statements as a prediction of actual results. MoSys disclaims any intention of, and assumes no obligation to, update or revise any forward-looking statements to reflect events or circumstances which subsequently occur or of which MoSys becomes aware, except as required by law. required.
Jim Sullivan, Chief Financial Officer
Investor Relations Contact:
Leanne K. Sievers | Jeffrey Schreiner
949-224-3874 | 512-243-8976
THE SOURCE: MoSys, Inc.
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