San Diego, CA -- (ReleaseWire) -- 06/13/2012 -- An investigation on behalf of investors in NASDAQ:NOIZ shares was announced concerning whether the offer to acquire Micronetics Inc. at $14.80 per share and the takeover process are unfair to investors in NASDAQ:NOIZ shares.
Investors who purchased shares of Micronetics Inc. (NASDAQ:NOIZ) prior to June 10, 2012, and currently hold any of those Micronetics Inc. (NASDAQ:NOIZ shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Micronetics Inc. (NASDAQ:NOIZ breached their fiduciary duties owed to Micronetics Inc. (NASDAQ:NOIZ investors in connection with the proposed acquisition.
On June 10, 2012, Micronetics, Inc. (NASDAQ: NOIZ) announced that it has signed a merger agreement with Mercury Computer Systems, Inc. (NASDAQ: MRCY) and a new Mercury subsidiary under which Mercury Computer Systems, Inc will acquire Micronetics for $14.80 per common share in cash.
However, Micronetics has performed well for its investors. Its Total Revenue increased from $30.35million for the 12months period ending on March 31, 2009 to $45.97million for the 12months period ending on March 31, 2012 and its Net Loss of $9.56million for the 12months period ending on March 31, 2009 turned into a Net Income of $3.41million for the 12months period ending on March 31, 2012.
Therefore the investigation for NASDAQ:NOIZ investors concerns whether the proposed transaction is unfair to Micronetics Inc.. stockholders.
Specifically, given that certain shareholders of Micronetics holding shares representing approximately 20.0% of the shares outstanding have already entered into agreements with Mercury under which they have agreed to vote their shares in favor of the proposed merger, the investigation focuses on whether the Micronetics Inc. (NASDAQ:NOIZ Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Micronetics Inc. (NASDAQ:NOIZ) and purchased their Micronetics Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego