Could be:
May 2, 2000
Cree, Inc. announced that is has completed the previously announced acquisition of Nitres, Inc.
April 11, 2000
Cree, Inc. announced that it has signed a definitive agreement to acquire privately held Nitres, Inc., a researcher and developer of nitride-based semiconductor devices. Under the terms of the agreement, Cree will acquire all of the outstanding and vested shares of Nitres stock in exchange for approximately 1.5 million shares of Cree common stock in a pooling of interests transaction. In connection with the transaction, Cree will issue approximately 350,000 unvested Cree shares in exchange for unvested Nitres shares and assume all outstanding Nitres stock options and warrants which will be exercisable for approximately 150,000 shares of Cree common stock.
As a result of the acquisition, Nitres, Inc. will become a wholly-owned subsidiary called Cree Lighting Company, a California corporation. |
