The controlling Goh brothers of Ossia International have extended the closing date of their offer to take the company private from July 9 to August 1, after receiving only 87.32% of valid acceptances of the offer on July 8.
The Goh brothers sought to take the company private in June 2024 for 14.5 cents per share, but received 85.92% in valid acceptances at the close of the offer. The company would have been privatised had the joint offerors received acceptances exceeding 90% of the total number of shares in Ossia.
The family sought to take the company private via a voluntary unconditional cash offer of 16 cents per share in May 2025. The offer price represents a premium of around 41.59% over Ossia’s last traded price of 11.3 cents on May 9. The company called for a trading halt on May 13.
W Capital, the independent financial adviser to the privatisation offer of Ossia International, said on June 18 that the offer by the controlling Goh brothers is "not fair" but "reasonable".
Shares in Ossia International closed flat at 16.7 cents on July 8.
