Considering the fact that the ProPhotonix (OTCMKTS:STKR) stock soared by as much as 57% on Thursday, it is quite likely that the stock is going to come into focus among investors this morning.
Market Action
On Thursday, STKR stock soared 57% to $0.1020 with more than 1.07 million shares, compared to its average volume of 26k shares. The stock has moved within a range of $0.0850 – 0.1040 after opening the trade at $0.0850.
ProPhotonix Agrees to $11.6M Merger Bid From Exaktera
The company had been in focus among investors yesterday after it announced that it had reached an agreement with regards to a merger bid worth as much as $11.6 million from the company Exaktera. While it is true that the merger can only go through following approval from shareholders, the company did announce that it was going to recommend its shareholders to accept the Exaktera offer.
As per the provisions of the agreement that was signed between the two parties, a shareholder in ProPhotonix is going to get $0.117 in cash for each share they hold.
That is a generous offer considering the fact that it represents a premium of as much as 54.6% over the average price of the ProPhotonix stock over a period of 30 trading days. The all important meeting of the company’s shareholders is going to take place on December 15, 2021 and up until then, it is going to be interesting to see if the ProPhotonix stock continues to get traction or not.
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