DASAN ZHONE SOLUTIONS, INC. (NASDAQ:DZSI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On July 31, 2019, Dasan Network Solutions, Inc. (“Purchaser”), a California corporation and wholly-owned subsidiary of Dasan Zhone Solutions, Inc., entered into a Share Transfer Agreement (the “Purchase Agreement”) with Handysoft, Inc. (“Seller”), a company incorporated under the laws of Korea.
The Purchase Agreement provides that, upon the terms and subject to the conditions described therein, Purchaser will acquire from Seller all of Seller’s ownership interests in DASAN Network Solutions JAPAN, Inc. (“DNS Japan”), a company organized under the laws of Japan, in exchange for approximately $950,000 in cash (the “Transaction”). The Transaction was effective upon the execution of the Purchase Agreement. Prior to the Transaction, Seller was a minority shareholder of DNS Japan and Purchaser was the majority shareholder of DNS Japan. As a result of the Transaction, Purchaser became the sole shareholder of DNS Japan.
The Purchase Agreement contains certain representations, warranties and covenants of each of the Purchaser and the Seller, including, among other things, representations by Seller as to the ownership and transferability of the shares.
The foregoing description of the Purchase Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Purchase Agreement, which is filed as Exhibit 2.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
DASAN ZHONE SOLUTIONS INC Exhibit
EX-2.1 2 dzsi-ex21_6.htm EX-2.1 dzsi-ex21_6.htm Exhibit 2.1 Share Transfer Agreement This Share Transfer Agreement (the “Agreement”),…
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About DASAN ZHONE SOLUTIONS, INC. (NASDAQ:DZSI)
DASAN Zhone Solutions, Inc., formerly Zhone Technologies, Inc., designs, develops and manufactures communications network equipment for telecommunications operators and enterprises across the world. The Company’s products provide enterprise solutions that enable both network service providers and enterprises to deliver high speed fiber access, while transporting voice, video and data to the end user. In addition to its product offerings in its core business, it offers FiberLAN Passive Optical local area network (LAN), which provides an alternative to switched copper-based LANs. The customers of its FiberLAN business include hospitality, government, education, manufacturing and business enterprises. Its products span two categories: SLMS Products, and Legacy, Service and Other Products. Its SLMS Products include Broadband Aggregation and Service, Customer Premise Equipment (CPE), Zhone Management System and FiberLAN Passive Optical LAN.