Data I/O to buy V-TEK and A&J Programming for ~$23M, funded partly by $13.25M private placement

DATA I/O CORP

Definitive agreement to acquire V-TEK, Inc. (Mankato, MN semiconductor handling/packaging) and A&J Programming, Inc. (San Jose, CA programming services); close expected this week.
Total purchase price ~$23M, including ~$3M in Data I/O common stock (~1.12M shares); balance from cash on hand and the $13.25M offering proceeds.
Offering: $13.25M of convertible subordinated debentures, 5-year term, 5% interest rising 1% per year; $7.25M converts automatically at $2.68/share.
Remaining $4.0M is non-voting preferred at $1,000/share, convertible at $2.68; the June 2026 private placement lead investor committed an additional $4.0M.
Special shareholder meeting targeted within 120 days to approve issuing more than 19.9% of outstanding shares; Form S-1 due within 30 days of closing.

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