SigmaTron moves closer to Wagz merger
ELK GROVE VILLAGE -- SigmaTron International Inc. shareholders Friday approved a stock plan negotiated as part of its proposed merger with Wagz, a New Hampshire-based company that makes GPS-tracking dog collars and other pet technologies.
A 55% percent majority of shareholders cast votes at a special meeting Friday, and the merger and stock plan was approved by 87.3% of the votes, SigmaTron said.
Shareholders also approved adoption of a new 2021 Employee Stock Option Plan, which also takes into account the proposed merger.
"I would like to thank the stockholders for their support of the Wagz transaction and both related proposals" said Gary R. Fairhead, chairman of the board and chief executive officer of SigmaTron. "Please note that while both proposals passed, the closing of the Wagz transaction remains subject to satisfying all conditions to closing set forth in the agreement and plan of merger, for both Wagz and (SigmaTron), as described in further detail in the proxy statement. We expect that a conclusion will be reached no later than the end of the calendar year."
Elk Grove Village-based SigmaTron is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products.