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H.I.G. Capital To Buy SMTC For $6.044/shr; Stock Surges

January 04, 2021 — 10:08 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - H.I.G. Capital agreed to buy all outstanding shares of SMTC Corp.'s (SMTX) common stock for $6.044 per share in cash.

The purchase price represents a premium of about 22% over SMTC's closing share price on December 31, 2020 and 66% over the share price 60 days ago.

SMTC said its board has approved the agreement and recommended that the company's stockholders adopt the agreement.

The transaction is expected to close by the second quarter of 2021.

In Monday regular trading, SMTX was trading at $5.94 up $0.98 or 19.76 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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