RTTNews | Jan 4, 2021 10:09AM EST

10:08 Monday, January 4, 2021 (RTTNews.com) - H.I.G. Capital agreed to buy all outstanding shares of SMTC Corp.'s (SMTX) common stock for $6.044 per share in cash.

The purchase price represents a premium of about 22% over SMTC's closing share price on December 31, 2020 and 66% over the share price 60 days ago.

SMTC said its board has approved the agreement and recommended that the company's stockholders adopt the agreement.

The transaction is expected to close by the second quarter of 2021.

In Monday regular trading, SMTX was trading at $5.94 up $0.98 or 19.76 percent.

Read the original article on RTTNews ( https://www.rttnews.com/3157431/h-i-g-capital-to-buy-smtc-for-6-044-shr-stock-surges.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved