Monster Digital terminates license deal [Seeking Alpha]
MONSTER DIGITAL (MSDI)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/01/29/1313343/0/en/monster-digital-and-innovate-biopharmaceuticals-extend-outside-closing-date-for-merger.html
Company Research
Source: Seeking Alpha
Monster Digital terminates license dealMonster Digital (NASDAQ:MSDI)terminates the license deal between its subsidiary SDJ Technologies and Monster, Inc.Key portion of the press release: “The Company has been dissatisfied with the existing royalty rate under the License Agreement, especially in light of decreasing sales and demand for its action sports cameras and general softness in the overall market for action sports cameras and accessories. After much deliberation, management concluded that it could not continue to be party to the License Agreement under the existing terms.”The license agreement will terminate within 90 days of Monster, Inc. receiving the notice.Monster Digital shares closedup 21%.Previously:Monster Digital merger will close December 19(Nov. 30)See all stocks on the move »
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