MoSys, the semiconductor service provider, is having a field day in the stock market this Wednesday, courtesy, a partnership with Peraso.
The companies shares have soared up by 16% and more as it decided to partner with the fabless semiconductor Peraso. They signed a statutory plan agreement for Business Combination under Ontario’s Business Corporations Act. The transaction which comes into effect by Q4 2021 will help both the companies to achieve new heights. Peraso will have a 61% equity share, while MoSys will enjoy a 39% share in the joint venture. The common business will have a 5 membered board of directors, with 2 from MoSys and the rest from Peraso.
To Trade As Peraso
The MoSys will now trade in Nasdaq Capital Market under the name of Peraso with the PRSO ticker symbol. The company feels that this business combination will broaden their product lines and help them scale up, reaching out to new customers. Both the companies are trying to position themselves as a high growth target in 5G with this partnership.
At present, MOSY is trading at $6.19. Throughout last year it maintained a $1.35-$10.75 trading range.