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Share Name | Share Symbol | Market | Type |
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(MM) | NASDAQ:RDA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 18.46 | 0 | 01:00:00 |
RDA Microelectronics, Inc. (Nasdaq:RDA) ("RDA Microelectronics" or the "Company"), a fabless semiconductor company that designs, develops and markets wireless systems-on-chip and radio-frequency (RF) semiconductors for cellular, connectivity and broadcast applications, today provides certain updates regarding the pending merger transaction (the "Transaction") with Tsinghua Unigroup Ltd. ("Tsinghua Unigroup").
The Board of Directors of the Company (the "Board") has been closely monitoring the closing process of the Transaction and carefully evaluating developments with the assistance of US and PRC legal counsel and other advisors. Further to the announcements made by the Company on May 2, 2014, which clarified certain aspects of status regarding the Transaction, the Company hereby provides the following additional updates:
Also, in view of the pending Transaction and the sensitive current interim period, the Company will not announce its financial results for the quarter ended March 31, 2014 by press release or hold a conference call to discuss such quarterly results.
About RDA Microelectronics
RDA Microelectronics is a fabless semiconductor company that designs, develops and markets wireless system-on-chip and radio-frequency semiconductors for cellular, connectivity and broadcast applications. The Company's product portfolio currently includes baseband, radio-frequency front-end modules, power amplifiers, transceivers, Bluetooth system-on-chip, Wi-Fi, Bluetooth and FM combo chips, FM radio receivers, set-top box tuners, analog mobile television receivers, CMMB mobile television receivers, walkie-talkie transceivers and LNB satellite down converters. For additional information, please see the Company's website at http://www.rdamicro.com.
Forward-Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Any statements in this press release that are not historical facts are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include the Company's anticipated growth strategies; its future results of operations and financial condition; impact of currency volatility in emerging markets; economic conditions in China; the regulatory environment in China; the Company's ability to attract customers and leverage its brand; trends and competition in the semiconductor industry; migration to new technology; the entry into baseband, new TV and display market; anticipated developments in respect of the pending merger transaction between the Company and Tsinghua Unigroup Ltd. and other factors and risks detailed in the Company's filings with the Securities and Exchange Commission. This press release also contains statements or projections that are based upon information available to the public, as well as other information from sources which the Company believes to be reliable but whose accuracy or completeness the Company cannot guarantee. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
CONTACT: Lily Dong, Chief Financial Officer RDA Microelectronics, Inc. +86-21-5027-1108 ir@rdamicro.com or Shelton Group Investor Relations Leanne Sievers, EVP 949-224-3874 Matt Kreps, Managing Director 972-239-5119 ext. 125 sheltonir@sheltongroup.com
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