SAN JOSE, CA / ACCESSWIRE / December 1, 2021 / 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.
About MoSys, Inc.
MoSys, Inc. (NASDAQ:MOSY) provides both integrated circuits (ICs) and intellectual property (IP) solutions that enable fast, intelligent data access and decision making for a wide range of markets. MoSys' primary product line is marketed under the Accelerator Engine name and includes the Bandwidth Engine IC products, which integrate its proprietary, 1T-SRAM high-density embedded memory and a highly efficient serial interface protocol resulting in a monolithic memory IC solution optimized for memory bandwidth and transaction access performance. In 2020, MoSys began offering for license its initial Virtual Accelerator Engine IP, which consists of software, firmware and related IP. The Virtual Accelerator Engine IP include multiple function accelerator platform products, which target specific application functions, initially Packet Inspection for routing, security and operations, and will use a common software interface to allow performance scalability over multiple hardware environments. For additional information on MoSys, Inc., please visit www.mosys.com.
Bandwidth Engine, MoSys and 1T-SRAM are registered trademarks of MoSys, Inc. in the US and/or other countries. The MoSys logo is a trademark of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward-looking statements." These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "strategy," "goal," or "planned," "seeks," "may," "might," "will," "expects," "intends," "believes," "should," and similar expressions, or the negative versions thereof, and which also may be identified by their context. All statements that address the development of the events, the operating results of the combined company, voting outcome, the ability to satisfy the closing conditions to the Arrangement in a timely manner, if at all, and the anticipation of certain behavior of stockholders of MoSys, that are not otherwise historical facts, are forward-looking statements. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. MoSys disclaims any intention to, and undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which MoSys hereafter become aware, unless required by law.
Jim Sullivan, CFO
Investor Relations Contact:
Leanne K. Sievers | Jeffrey Schreiner
949-224-3874 | 512-243-8976
SOURCE: MoSys, Inc.