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0.0937500000000001 0.0937500000000001 0.0937500000000001 0.2421875 0.1953125 0.2421875 0.25 0.1796875
Stock impact report

ADDvantage Technologies to Divest Cable TV Segment Operations

ADDvantage Technologies Group, Inc. (AEY) 
Company Research Source: GlobeNewswire
BROKEN ARROW, Okla., Dec. 27, 2018 (GLOBE NEWSWIRE) -- ADDvantage Technologies Group, Inc. (NASDAQ:  AEY), today announced it has entered into an agreement to sell the Cable TV segment business for $10.3 million to Leveling 8 Inc, a company controlled by David Chymiak, the Company’s Chief Technology Officer, director and a substantial shareholder. The purchase price will consist of $3.9 million of cash and a $6.4 million promissory note to be paid in semi-annual installments over five years with an interest rate of 6.0%.  The transaction was negotiated and approved by a committee of independent directors and is subject to shareholder approval, including approval by the holders of a majority of the shares which are unaffiliated with the buyer, and is anticipated to occur in the third fiscal quarter of 2019. Although the Company is prohibited from soliciting other offers for its Cable TV segment, the agreement does permit its board of directors to consider and approve a superior un Show less Read more
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