UNAUDITED COMBINED PRO FORMA FINANCIAL DATAMerger Agreement • August 17th, 2007 • Micronetics Inc • Electronic components, nec
On June 5, 2007, the Company entered into an Agreement of Merger and Plan of Reorganization (the “Merger Agreement”) with MICA Microwave Corporation, a California corporation (“MICA”) whereby MICA became a wholly-owned subsidiary of Micronetics. Pursuant to the terms and conditions of the Merger Agreement, the Company acquired all of the common stock of MICA for $3.0 million in cash and $2.0 million in shares of Micronetics’ common stock, (248,135) subject to a post-closing adjustment based upon MICA’s net worth on the closing date.
