Applied Optoelectronics terminates Prime World asset sale

In a regulatory 8-K filing, the company states: “Applied Optoelectronics previously reported in its Current Report on Form 8-K dated September 15, 2022 that the Company and Prime World International Holdings Ltd., which is a company incorporated in the British Virgin Islands and a wholly owned subsidiary of AOI, entered into a definitive agreement with Yuhan Optoelectronic Technology Co., Ltd. Pursuant to the Purchase Agreement, AOI agreed to sell its manufacturing facilities located in the People’s Republic of China and certain assets related to its transceiver business and multi-channel optical sub-assembly products for the internet datacenter, fiber-to-the-home and telecom markets. On September 12, 2023, AOI and the Seller delivered a notice of termination to the Purchaser to terminate the Purchase Agreement as a result of the Purchaser’s breach of or omission to observe certain of the Purchaser’s obligations under the Purchase Agreement. As a result of the Company’s delivery of the Termination Notice, the Purchase Agreement has been terminated.”