InfoSonics Corp., a San Diego-based manufacturer and provider of wireless handsets, tablets and related products in Latin America, has set the record and meeting date for a special meeting of its stockholders to vote on the proposed merger with Cooltech Holding Corp.
The meeting will be held March 7 at the offices of Perkins Coie LLP. InfoSonics stockholders of record as of the close of business on Feb. 5, are entitled to receive notice of — and to vote at — the special meeting, according to the company.
The deal, which would make Cooltech a wholly owned subsidiary of InfoSonics, was valued at $38.1 million at the time of announcement in July of 2017.
InfoSonics’ Board of Directors unanimously recommends that the company’s shareholders vote for the merger proposal and related transactions and approval of the other voting matters included in the Proxy Statement/Prospectus, according to Infosonics.
If approved by InfoSonics shareholders, the merger transaction will become effective upon the satisfaction of all other closing conditions set forth in the merger agreement, which the company expects to occur shortly following the meeting, InfoSonics said.