DECEMBER 11, 2008 -- Privately owned GigOptix LLC (search for GigOptix) and Lumera Corp. have completed their merger and will now conduct business as GigOptix, Inc. The company's common stock began trading December 10 on the OTC Bulletin Board, which is not a national securities exchange, under the symbol GGOX.
Under the terms of the merger agreement, GigOptix LLC security holders are receiving approximately 0.1375 shares of GigOptix, Inc. common stock for each GigOptix LLC membership unit, and Lumera (search for Lumera) stockholders are receiving 0.125 shares of GigOptix, Inc. common stock for each share of Lumera common stock. Lumera stockholders holding stock certificates will receive share exchange instructions "soon," the new company said.
The Lumera closing bid on December 9, 2008 was $1.72, as adjusted to reflect a 1 for 8 reverse stock split.
GigOptix LLC head Dr. Avi Katz will serve as CEO and chairman of the board of the new combination. Peter Biere will serve as CFO, Andrea Betti-Berutto will serve as CTO, Julie Tipton will serve as vice president of marketing, Dr. Raluca Dinu will serve as vice president of advanced engineering, Vivek Rajgarhia will serve as vice president of global sales, Marc Correa will serve as vice president of global operations and Dr. Jörg Wieland will serve as vice president and general manager of GigOptix-Helix AG. Biere and Dinu come from Lumera.
C. James Judson and Dr. Joseph Vallner, formerly Lumera board members, will join the board of GigOptix. Kimberly D.C. Trapp, formerly a board member of both GigOptix LLC and Lumera, will also be on the board. Other board members will include Stephen C. Johnson, a former GigOptix LLC board member, Neil J. Miotto, and Douglas L. Swenson.
GigOptix will be headquartered in Palo Alto, CA and will maintain operations in Bothell, WA, and Zurich, Switzerland.
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