Hollysys Automation Technologies (NASDAQ: HOLI) and Ascendent Capital Partners have completed their merger transaction. As a result, Hollysys has become a wholly-owned subsidiary of Ascendent and will cease to be publicly traded. The company has requested the suspension of its shares on Nasdaq as of July 25, 2024.
Key points of the merger include:
Shareholders will receive $26.5 per share in cash
The merger was approved by shareholders on February 8, 2024
Hollysys will suspend its SEC reporting obligations
The company will be delisted from Nasdaq