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SBE |
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Although the exact number of shares to be issued in the merger will be determined at closing according to a formula contained in the merger agreement, it is currently estimated that SBE will issue approximately 57 million shares of its common stock in exchange for outstanding shares of Neonode common stock and will assume options and warrants exercisable for approximately 17 million additional shares of SBE common stock. 2 million in cash, coupled with the reduction in our long-term liabilities, expands the options available to SBE as we explore all strategic alternatives that may enhance shareholder value," said Greg Yamamoto, President and Chief Executive Officer of SBE. Building on SBE's feature rich and field-tested iSCSI Target protocol stack, the IP SAN Director Suite provides a solid foundation upon which additional SBE storage management modules, such as Snapshot, Replication, and High-Availability can be added enabling OEMs to create feature-laden, optimized storage solutions. |
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