Xcerra holders approve merger with Hubei Xinyan Equity Investment Partnership
Xcerra Corporation announced that, at the company's Special Meeting of Stockholders held October 12, 2017, Xcerra stockholders approved the previously announced Agreement and Plan of Merger, as assigned and amended, by and among Hubei Xinyan Equity Investment Partnership, China Integrated Circuit Industry Investment Fund Co., Ltd. and the company, as joined by Unic Acquisition Corporation. 40,704,975 shares were voted in favor of the Agreement, which represents 98.7% of the total shares voted, or 74.88% of the total shares outstanding as of August 23, 2017, the record date for the Special Meeting. There were approximately 54.4 million shares of Xcerra common stock outstanding and entitled to vote at the Special Meeting. Pursuant to the terms of the Agreement, Xinyan will acquire Xcerra for the agreed-upon purchase price of $10.25 per share. In addition to CFIUS clearance, the closing of the proposed transaction remains subject to other conditions, including the receipt of required regulatory approvals in the U.S., China, and other international jurisdictions. The transaction is expected to close as soon as all of such regulatory approvals are received.