SAN JOSE, Calif.–(BUSINESS WIRE)–Arlo Applied sciences, Inc. (NYSE: ARLO) right this moment introduced that NETGEAR, Inc.
(NASDAQ: NTGR) has accomplished its beforehand introduced distribution of
62,500,000 shares of Arlo widespread inventory owned by NETGEAR, representing
roughly 84.2% of the excellent shares of Arlo widespread inventory.
After the completion of the distribution, NETGEAR now not owns any
shares of Arlo widespread inventory.
The distribution was made right this moment to NETGEAR stockholders of document as of
the shut of enterprise on December 17, 2018 (the “document date”). The
distribution occurred within the type of a professional rata widespread inventory dividend
to every NETGEAR stockholder of document on the document date. Based mostly on the
shares of NETGEAR widespread inventory excellent on the document date, NETGEAR
stockholders obtained 1.980295 shares of Arlo widespread inventory for each
share of NETGEAR widespread inventory held as of the document date.
No fractional shares of Arlo widespread inventory have been distributed. As a substitute,
NETGEAR stockholders will obtain money in lieu of any fraction of a
share of Arlo widespread inventory that they in any other case would have obtained.
In reference to, and efficient upon the completion of, the
distribution of shares of Arlo widespread inventory, Patrick C.S. Lo resigned as
a director of Arlo, and the Board of Administrators of Arlo lowered the scale
of the board from seven to 6.
On December 18, 2018, NETGEAR mailed an data assertion to its
stockholders on the document date, which included particulars on the
distribution. The knowledge assertion is posted beneath the Investor
Relations tab on NETGEAR’s web site at investor.netgear.com and on Arlo’s
web site at investor.arlo.com.
About Arlo Applied sciences, Inc.
Arlo is the award-winning, trade chief that’s reworking the way in which
individuals expertise the related life-style. Arlo’s deep experience in
product design, wi-fi connectivity, cloud infrastructure and
cutting-edge AI capabilities focuses on delivering a seamless, good
house expertise for Arlo customers that’s simple to setup and work together with
every single day. The corporate’s cloud-based platform offers customers with
visibility, perception and a strong means to assist shield and join in
real-time with the individuals and issues that matter most, from any location
with a Wi-Fi or a mobile connection. Up to now, Arlo has launched
a number of classes of award-winning good related units, together with
wire-free good Wi-Fi and LTE-enabled cameras, audio doorbells, superior
child displays and good safety lights.
Cautionary Assertion Relating to Ahead-Trying Statements
This press launch accommodates forward-looking statements throughout the
that means of the U.S. Non-public Securities Litigation Reform Act of 1995.
The phrases “anticipate,” “anticipate,” “imagine,” “will,” “might,” “ought to,”
“estimate,” “mission,” “outlook,” “forecast” or different related phrases are
used to determine such forward-looking statements. Nonetheless, the absence
of those phrases doesn’t imply that the statements are usually not
forward-looking. The forward-looking statements characterize Arlo
Applied sciences, Inc.’s expectations or beliefs regarding future occasions
based mostly on data accessible on the time such statements have been made.
These statements are based mostly on administration’s present expectations and are
topic to sure dangers and uncertainties, together with, amongst others,
market circumstances and unexpected regulatory points. Additional, sure
forward-looking statements are based mostly on assumptions as to future occasions
that will not show to be correct. Due to this fact, precise outcomes and
outcomes might differ materially from what’s expressed or forecast in such
forward-looking statements. Additional data on potential danger
elements that might have an effect on Arlo and its enterprise are detailed in Arlo’s
filings with the Securities and Alternate Fee. Given these
circumstances, you shouldn’t place undue reliance on these
forward-looking statements. Arlo undertakes no obligation to launch
publicly any revisions to any forward-looking statements contained
herein to replicate occasions or circumstances after the date hereof or to
replicate the prevalence of unanticipated occasions, besides as required by