Stock Alert: Lianluo Smart Jumps 40% On Merger Deal With Newegg

By RTTNews Staff Writer   ✉   | Published:

Shares of nano-cap company Lianluo Smart Ltd. (LLIT) surged over 40% on Monday morning after the company announced a merger agreement with US e-commerce company Newegg.

LLIT is currently trading at $4.60, up $1.35 or 41.66%, on the Nasdaq.

China-based Lianluo Smart, which designs, develops and markets medical products and medical components, has signed a merger agreement with Newegg. According to the agreement, Lianluo Smart's fully owned subsidiary Lightning Delaware Sub will merge with Newegg. Thereafter, the stockholders of Newegg will become the majority owners of Lianluo Smart.

Furthermore, Lianluo Smart will sell its equity stake in Lianluo Connection Medical Wearable Device Technology to Beijing Fenjin Times Technology Development according to the equity transfer agreement.

The financial details of the deals were not disclosed.

For comments and feedback contact: editorial@rttnews.com

Business News

Previous Story
Next Story
Editors Pick
Orca Bay Recalls Trader Joe's Southwest Gluten Free Battered Halibut
Orca Bay Foods, LLC recalled about 4,450 pounds of Trader Joe's brand Gluten Free Battered Halibut products for undeclared wheat and milk allergens, according to a statement published by the U.S. Food and Drug Administration (FDA). The action was initiated after it was discovered that product containing Wheat and Milk was distributed in packaging.
Samsung Group Chairman Lee Kun-hee Dies At 78
Lee Kun-hee, the Chairman of South Korean conglomerate Samsung Group, has died on October 25, at the age of 78. It was he who transformed Samsung into a South Korean behemoth, and the world's largest manufacturer of smartphones, televisions, and semiconductors. As per reports, Lee's only son Jae-yong, who currently serves as vice chairman of Samsung Electronics, is likely to take over Samsung.
Hasbro Q3 Results Top Estimates - Quick Facts
Toy and board game company Hasbro, Inc. (HAS) reported Monday net earnings attributable to Hasbro for the third quarter of $220.90 million or $1.61 per share, compared to pro forma net earnings of $216.5 million or $1.57 per share in the year-ago period. Excluding items, adjusted earnings for the...