PLANO, Texas--(BUSINESS WIRE)--Diodes Incorporated (Nasdaq: DIOD) today confirmed that Lite-On Semiconductor Corp. (TWSE: 5305) (“LSC”) sold over 52% of its ownership in On-Bright Electronics Co. Ltd. (“On-Bright”), representing 16.5% of On-Bright’s shares outstanding, to Orthosie at a price of NTD221 per share on January 14, 2020 as was previously anticipated and detailed in a press release issued by Diodes on January 8, 2020.
LSC’s remaining ownership of On-Bright amounts to 14.69% of shares outstanding, which will be exchanged for NTD230 per share in cash as merger consideration on the record date of the On-Bright merger with Orthosie, which requires approval by the shareholders' of On-Bright and from relevant regulatory authorities. In addition, David Lee, LSC’s CEO, resigned as On-Bright’s chairman of the board, and Karin Huang, LSC’s CFO, resigned as a director of On-Bright’s board. As a result, no member of LSC’s management team serves on the board of On-Bright.
About Diodes Incorporated
Diodes Incorporated (Nasdaq: DIOD), a Standard and Poor’s SmallCap 600 and Russell 3000 Index company, is a leading global manufacturer and supplier of high-quality, application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. We serve the consumer electronics, computing, communications, industrial, and automotive markets. Our products include diodes, rectifiers, transistors, MOSFETs, protection devices, function-specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors, power management devices, including LED drivers, AC-DC converters and controllers, DC-DC switching and linear voltage regulators, and voltage references along with special function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers. Diodes also has timing, connectivity, switching, and signal integrity solutions for high-speed signals. Our corporate headquarters and Americas’ sales offices are located in Plano, Texas and Milpitas, California. Design, marketing, and engineering centers are located in Plano; Milpitas; Taipei, Taoyuan City, and Zhubei City, Taiwan; Oldham, England; and Neuhaus, Germany. Our wafer fabrication facilities are located in Oldham; Shanghai, China; and Greenock, Scotland. We have assembly and test facilities located in Shanghai, Jinan, and Chengdu, China; as well as in Hong Kong; Neuhaus; and Taipei. Additional engineering, research and development, sales, warehouse, and logistics offices are located in Taipei; Hong Kong; Oldham; Shanghai; Shenzhen and Yangzhou, China; Seongnam-si, South Korea; Munich, Germany; and Tokyo, Japan, with support offices throughout the world.
Recent news releases, annual reports and SEC filings are available at the Company’s website: http://www.diodes.com. Written requests may be sent directly to the Company, or they may be e-mailed to: email@example.com.