HB Ad Slot
HB Mobile Ad Slot
Upcoming/New CFIUS Filing: Tonghao Information Technology, and UTStarcom Holdings Corp.
Tuesday, September 10, 2019

Status:

Upcoming/New Filing

Acquirer:

Tonghao Information Technology (Shanghai) Co., Ltd. (China)

Acquired:

UTStarcom Holdings Corp. (Cayman Islands)

Value: 

Approx. US$49.2 Million

Industry: 

Telecommunications

On January 31, 2019, Tonghao (Cayman) Ltd. entered into an agreement with a group of selling individuals and entities to purchase an additional 9,200,000 Ordinary Shares (approx. 25.6% of total outstanding Ordinary Shares), with an aggregate purchase price of US$49,220,000, of UTStarcom Holdings Corp., a Cayman Islands corporation and holding company for the UTStarcom business that provides telecommunication infrastructure products and services.  (UTStarcom Holdings Corp. Schedule 13D/A, Feb. 4, 2019, SEC Filing.)  “The closing of the purchase and sale . . . is subject to customary conditions, including the obtaining of all necessary authorizations, consents, orders and approvals of The Committee on Foreign Investment in the United States (the “CFIUS Approval”) . . .”  (Id.)  “The Aggregate Purchase Price will be funded to the Acquirer by its sole shareholder, Tonghao Information Technology (Shanghai) Co., Ltd. (通灏信息科技(上海)有限公司).”  (Purchase and Sale Agreement, UTStarcom Holdings Corp. Schedule 13D/A, Ex-99.12, Feb. 4, 2019, SEC Filing.)  “UTStarcom was founded in 1991 and began trading on NASDAQ since 2000. It has operating entities in Tokyo, Japan; San Jose, USA; Hangzhou, China; and Delhi and Bangalore, India.”  (UTStarcom website, About Us web page, visited Aug. 20, 2019.)

HB Ad Slot
HB Ad Slot
HB Mobile Ad Slot
HB Ad Slot
HB Mobile Ad Slot
 
NLR Logo
We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up to receive our free e-Newsbulletins

 

Sign Up for e-NewsBulletins