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MoSys, Inc. (NASDAQ:MOSY) ("MoSys" or the "Company"), a provider of high-speed semiconductor solutions, today announced that, based on preliminary vote estimates for the Company's special meeting of stockholders to be reconvened on December 1, 2021, approximately 94% of the votes received so far have approved the plan of arrangement and related transactions (the "Arrangement") with Peraso Technologies Inc. ("Peraso") and approximately 79% of the votes cast so far have approved the amendment and restatement to the Company's stock incentive plan, as further described in the Company's definitive proxy statement filed with the United States Securities and Exchange Commission (the "SEC") on October 18, 2021. The Company is confident the required quorum for the special meeting has been achieved.
MoSys is also pleased to report that the securityholders of Peraso have overwhelmingly approved the Arrangement, and Peraso has obtained the final order of the Ontario Superior Court of Justice (Commercial List) for the Arrangement.
Subject to the closing conditions of the arrangement agreement, including the continuous listing of the Company's common stock on the Nasdaq Capital Market, MoSys and Peraso anticipate proceeding with the closing, as soon as practicable, after the final voting results of the special meeting are announced.
"We are pleased to have the support of our stockholders in connection with the upcoming business combination," stated Dan Lewis, MoSys' chief executive officer."Our excitement about the Arrangement between MoSys and Peraso is growing as we get closer to the special meeting and to the closing of the Arrangement shortly thereafter.We believe the combination of our companies will benefit both sets of securityholders and will be particularly advantageous to MoSys stockholders who will become investors in Peraso, which is targeting high-growth opportunities in 5G, as well as telecom and data networks.We look forward to our transition into a new company, Peraso Inc., focused on leading-edge IC products and IP solutions."
Mr. Lewis added: "We are truly thankful to our stockholders for their continuous support for this transaction. We fully anticipate that our special meeting of stockholders on December 1, 2021, will result in our surpassing one more crucial milestone of the business combination."
The preliminary vote count is subject to certification at the meeting. Additional information regarding the results of the special meeting of stockholders will be available in a current report on Form 8-K to be filed with the SEC.
Posted In: MOSY
