- SemiLEDs (NASDAQ:LEDS) has gained 19.4% after hours following an offer it received to buy 680,000 shares.
- In a filing, the company notes it received the offer to buy that quantity at $3 each (a 35% premium) from individual investor Xian Chang Ma (chairman/CEO of Shandong Tengjunxiang Biotechnology), in China.
- The 680K shares make up about 19% of currently outstanding shares.
- The deal's contingent on board acceptance and a definitive stock purchase agreement. On closing, the board expects to nominate Ma to a director's seat.
- SemiLEDs says its board will decide on the offer by Aug. 30.