Maury Microwave, Inc. completed the acquisition of Wireless Telecom Group, Inc. (NYSEAM : WTT) from a group of shareholders.
The Wireless Telecom Group board of directors unanimously approved the merger agreement and recommended that Wireless Telecom Group shareholders vote in favor of it at a special meeting of stockholders. Subject to the approval of Wireless Telecom Group shareholders and the satisfaction of other customary closing conditions. As of August 2, 2023, Wireless Telecom shareholders approved the transaction. Payment of the merger consideration will be made as promptly as practical following receipt of written confirmation of administrative approval by the State of New Jersey. Completion of the transaction is expected in the third quarter of 2023. The merger is expected to close on August 4, 2023, subject to customary closing conditions.
Mark L. Opitz and Greer A. Longer of Morgan, Lewis & Bockius acted as legal advisor to Maury Microwave. Tara Newell, Vicki Westerhaus, Aaron Lang, LaRona Kitzinger, Kaley Rickert, Heba Qazi, Frank Crisaf, Erik Kahn, Paul Sudentas, Christian Auty, David O?Steen, Rick Arenburg, Anthony George, Roberta Gordon, Joe Robertson, Jennie Wynne, Megan Barnhill, Jennifer Kies Mammen, Ken Achenbach and Anissa Madrill of Bryan Cave Leighton Paisner acted as legal advisor to Wireless Telecom Group. CDX Advisors acted as financial advisor and fairness opinion provider to Wireless Telecom. Lee D. Charles and Lakshmi Ramanathan of Baker Botts advised CDX Advisors LLC, who acted as financial advisor. Advantage Proxy, Inc. acted as proxy solicitor to WTT. WTT will pay a fee of $10,000 to Advantage Proxy, Inc. WTT has agreed to pay an aggregate fee of $1.128 million to CDX for it's services, $0.25 million of which was payable upon the delivery of an opinion by CDX and the remaining portion of which is contingent upon the consummation of the merger.
Maury Microwave, Inc. completed the acquisition of Wireless Telecom Group, Inc. (NYSEAM : WTT) from a group of shareholders on August 4, 2023. C. Scott Gibson, Alan L. Bazaar, Jennifer Fritzsche, Michael Millegan, Allan D. L. Weinstein and Timothy Whelan ceased to be members of the board of directors of Wireless Telecom, and any committee. In addition, at the effective time, Timothy Whelan ceased to be an executive officer of Wireless Telecom.