Odyssey Semiconductor Technologies, Inc.: M&A transaction — Odyssey Semiconductor sells all assets to Power Integration; initiates dissolution

Odyssey Semiconductor Technologies, Inc.

Closed asset sale of substantially all assets to Power Integration on July 1, 2024.
Stockholders approved sale and plan of dissolution at June 3 special meeting.
Common stock downgraded from OTC QB to OTC Pink; company ceasing operations.
Plan to pay liquidating distribution to common shareholders if funds available.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Odyssey Semiconductor Technologies, Inc. completed a disposition involving Power Integration Inc. (closed 2024-07-01).

Action: disposition
Counterparty: Power Integration Inc.
Closing: 2024-07-01

Exact text from the filing

On July 1, 2024, pursuant to the Asset Purchase Agreement and subject to the satisfaction or waiver of certain conditions and limitation provided therein, the Seller Parties and Power Integration closed the sales, transfer and assignment of substantially all of the Company’s assets (the “Asset Sale”) to Power Integration.

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Source: SEC EDGAR

accession 0001437749-24-021845

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