OCZ selling assets to Toshiba for $35M, shares -34.6% AH

Five days after announcing it plans to file for bankruptcy and has received an asset purchase offer from Toshiba (TOSBF), OCZ says it has "signed an asset purchase agreement" through which the Japanese conglomerate will "acquire substantially all of OCZ's assets in a chapter 11 bankruptcy proceeding for $35M." (PR)

Toshiba will gain control of OCZ's SSD ops, as well as its SSD controllers, software, and firmware. OCZ will receive debtor-in-possession financing to support its operations during the bankruptcy process.

The sale, which remains subject to bankruptcy auction proceedings and court approval, is expected to close within 60 days.

From other sites
Comments (7)
  • Ashraf Eassa
    , contributor
    Comments (9727) | Send Message
    Anybody buying this junk today deserves to get burned.
    2 Dec 2013, 05:10 PM Reply Like
  • leopardtrader
    , contributor
    Comments (3800) | Send Message
    @Ashraf Why you say such a thing ? Those that bought today made money ..rallied 130% even retreated by 25% AH..still cool. So what are u talking about here.
    2 Dec 2013, 05:21 PM Reply Like
  • hkng
    , contributor
    Comments (65) | Send Message
    embarrassing yourself
    2 Dec 2013, 05:54 PM Reply Like
  • short term investor
    , contributor
    Comments (40) | Send Message
    I understand that not everyone has a good childhood but, still, why are you so angry about this company? Let it goes....
    2 Dec 2013, 06:02 PM Reply Like
  • ghislainfapom
    , contributor
    Comment (1) | Send Message
    IS IT?
    3 Dec 2013, 06:10 AM Reply Like
  • almkeeton4
    , contributor
    Comments (6) | Send Message
    What does this mean for the current shareholders?
    6 Dec 2013, 04:28 PM Reply Like
  • wroland
    , contributor
    Comment (1) | Send Message
    Is this a good or bad thing for share holders
    14 Dec 2013, 01:18 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs