On2 and Google Announce Exchange Ratio for On2 Merger
CLIFTON PARK, NY and MOUNTAIN VIEW, Calif. (December 16, 2009) - On2 Technologies, Inc. (NYSE Amex: ONT) and Google Inc. (NASDAQ: GOOG) jointly announced today that the exchange ratio, or the fraction of a share of Google Class A Common Stock to be issued for each share of On2 Common Stock in connection with Google's proposed acquisition of On2, will be 0.0010. Any fractional share of Google Class A Common Stock (after aggregating all fractional shares of Google Class A Common Stock issuable to an On2 stockholder) resulting from the exchange of On2 Common Stock for Google Class A Common Stock will be paid out in a cash amount (rounded to the nearest whole cent), without interest, determined by multiplying such fraction by the trading price, as defined below. The exchange ratio was determined by dividing $0.60 per share by the trading price, which is defined in the merger agreement as the volume weighted average trading price of a share of Google Class A Common Stock based on the sales price of every share of Google Class A Common Stock traded during the 20 trading-day period ending on and including the second trading day prior to the date of the special meeting of On2's stockholders to consider and vote on the proposed merger. The special meeting of On2's stockholders is scheduled for Friday, December 18, 2009 at 4:00 p.m. EST.
About On2 Technologies, Inc.
On2 (NYSE Amex: ONT) creates advanced video compression technologies that power the video in today's leading desktop and mobile applications and devices. On2 customers include Adobe, Skype, Nokia, Infineon, Sun Microsystems, Mediatek, Sony, Brightcove, and Move Networks. On2 Technologies is headquartered in Clifton Park, NY USA. For more information, visit www.on2.com or www.on2.cn.
About Google Inc.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout the Americas, Europe and Asia. For more information, visit www.google.com.
|
On2 Technologies Inc. Hot IP
Related News
- On2 Technologies Provides Update On Its Proposed Merger With Google
- On2 Technologies Reports Proposed Settlement in Litigation Involving Proposed Merger With Google
- IDT and PLX Technology Announce Termination of Proposed Transaction and IDT Withdraws Exchange Offer for PLX Technology Shares
- Google Closes On2 Technologies Acquisition
- On2 Announces Early Termination of HSR Waiting Period in Connection with Proposed Acquisition of On2 by Google
Breaking News
- Logic Design Solutions launches Gen4 NVMe host IP
- ULYSS1, Microcontroller (MCU) for Automotive market, designed by Cortus is available
- M31 is partnering with Taiwan Cooperative Bank to launch an Employee Stock Ownership Trust to strengthen talent retention
- Sondrel announces CEO transition to lead next phase of growth
- JEDEC Publishes LPDDR5 CAMM2 Connector Performance Standard
Most Popular
- Arm's power play will backfire
- Alphawave Semi Selected for AI Innovation Research Grant from UK Government's Advanced Research + Invention Agency
- Secure-IC obtains the first worldwide CAVP Certification of Post-Quantum Cryptography algorithms, tested by SERMA Safety & Security
- Weebit Nano continuing to make progress with potential customers and qualifying its technology Moving closer to finalisation of licensing agreements Q1 FY25 Quarterly Activities Report
- PUFsecurity Collaborate with Arm on PSA Certified RoT Component Level 3 Certification for its Crypto Coprocessor to Provide Robust Security Subsystem Essential for the AIoT era
E-mail This Article | Printer-Friendly Page |