Kontron Merger Sub. extends expiration of tender offer for Bsquare shares

Kontron America, a leader in IoT Technology, and Bsquare jointly announced that Kontron Merger Sub., a wholly owned subsidiary of Kontron, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock of Bsquare, for $1.90 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of October 11 by and among Kontron, Bsquare, and Merger Sub. The Offer has been extended until one minute after 11:59 p.m., Eastern Time, on December 6, unless the Offer is further extended or earlier terminated pursuant to the terms of the Merger Agreement. The Merger Agreement requires that more than 66 2/3% of the sum of the total outstanding Shares at the expiration time of the Offer, plus the total number of Shares that Bsquare is required to issue upon conversion, settlement, exchange or exercise of its convertible securities at the expiration time of the Offer, be tendered in the Offer. The Offer is being extended in order to allow additional time for shareholders of Bsquare to tender their Shares and for Shares tendered by notice of guaranteed delivery to be received to meet this minimum tender condition. The parties do not expect to require additional time for the fulfillment of any other conditions of the Offer. Barnes & Thornburg serves as Kontron’s legal advisor. Telegraph Hill BD, the broker-dealer subsidiary of Telegraph Hill Advisors, is acting as financial advisor to Bsquare. DLA Piper serves as Bsquare’s legal advisor.