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Micronetics Acquires MICA Microwave, Inc.

Publication: Business Wire
Publication Date: 05-JUN-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
HUDSON, N.H. -- Micronetics, Inc. (NASDAQ:NOIZ) today announced that it has acquired MICA Microwave, Inc. (MICA) pursuant to an Agreement of Merger and Plan of Reorganization executed today with MICA. Pursuant to the terms of the Agreement of Merger, MICA merged with and into a wholly-owned subsidiary of Micronetics, and holders of MICA common stock received a combination of cash and shares of Micronetics common stock in a transaction valued at $5 million. Micronetics will be utilizing $3.0 million of the proceeds from its new term loan to finance the cash portion of the...

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