Synaptics Inc. announced on Thursday that it has signed an amended and restated merger agreement with ON Semiconductor Corp. The agreement outlines an all-cash acquisition of Synaptics by ON Semiconductor. According to the filing with the Securities and Exchange Commission, each share of Synaptics common stock will convert into $123 in cash, without interest.
The news caused Synaptics shares to jump 14.5% in pre-market trading to a price of $121.50. This price reflects the value offered in the merger agreement. ON Semiconductor shares were also up 6.29% in pre-market trading to $85.12.
The article also lists other stocks moving in pre-market trading. Alpha Modus Holdings Inc. rose 79.5% to $2.10 after closing a bitcoin-funded private placement and regaining Nasdaq listing compliance. NewGenIvf Group Ltd. rose 57.3% to $0.16 after closing a public offering with gross proceeds of about $1.25 million.
On the losing side of pre-market trading, Wellchange Holdings Co. Ltd. tumbled 20.3% to $1.33 after dipping 79% on the previous day. Nike Inc. fell 9.5% to $31.82 after reporting mixed first-quarter financial results.
