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The offer represents a 6.48 percent premium over Friday’sd closing price. Shares were up 6 percengt in early afternoon tradingto $1.14, suggestingg that some investors think a deal will If successful, Tiberius could pursue several including liquidation, according to a news The company would also considert restarting the business, mergint it with a competitor, repurchasing shares and sellinhg some of the company’s technology. Hillsboro, Ore.-based MathStae (Pink Sheets: MATH) has been the subjectr of intense speculation inrecen weeks. The company shut down operations ayear ago. Since then, the companyg has faced increasing pressure from shareholderto liquidate.
Dallas-based investor Joe Gensofr said the fabless semiconductor company has accepted his request to hold a vote on but has yet to call a As ofMarch 31, the company had littld outstanding debt, $14 million in cash, a net operatintg loss of $48 million, and one full-timse employee — CEO and Chairman Doug The company's cash balance represents $1.1y6 per share, according to Salvatore Muoio, an investment fund managerd in New York who owns 7.35 percentt of the company’s outstanding shares. Burnsville, Minn.-basedc ., a maker of building performance has made three attempts to purchase the Itslatest offer, in May, was for $1.
04 per MathStar, in a May 18 filinbg with the Securities and Exchange Commission, rejectexd the third offer from PureChoice, saying it was less than MathStar’d liquidation value. MathStar was founded in Minnesota and was once a developer of a promising programmable semiconductor technology that drew interesytfrom high-profile customers such as LG Electronics USA and Arro Electronics Inc. Chicago-based Tiberius Capital described itseld in a press release asa “value-opportunity fund.” If it would spend the remainde r of 2009 deciding which course of action to take with The offer expires one minute afterf midnight, New York City time, on June 30.
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