No such message found

Welcome To Turtle Beach (HEAR)

Edit this title from the Fast Facts Section

Free
Message: News Update!

Parametric Sound Corporation Provides Update on Strategic Alternatives

SAN DIEGO, CA--(Marketwired - June 13, 2013) -

Highlighted Links

http://www.parametricsound.com
Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of audio technology and solutions, today provided an update regarding its previously announced review of strategic alternatives. The Company reported May 2, 2013 that it had received a term sheet from a leader in one of its target verticals, was undergoing due diligence and was also reviewing strategic alternatives from additional parties. The Company's investment bank Houlihan Lokey has been active in this comprehensive evaluation and diligence process.

"The strategic party's technology diligence phase has been completed and demonstrated positive results regarding our patents and IP, technology, products, markets and consumer preferences," said Kenneth F. Potashner, executive chairman of Parametric Sound. "The review process has also validated our findings regarding the substantial improvement in hearing and clarity by persons with hearing loss.

"We have now moved to an exclusive negotiating period and we are working on definitive agreement terms and conditions," continued Potashner. "While this strategic alternative is being considered, we are executing on our operational plan to grow commercial revenues, develop and co-develop products for consumer licensing, and develop applications of our technology for the aging and hearing impaired markets."

Share
New Message
Please login to post a reply