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Edward D. Bagley, a significant shareholder in ClearOne Inc. (NASDAQ:CLRO), has acquired 2 million shares of the company’s common stock, according to a recent SEC filing. The stock, currently trading at $0.52, is showing signs of being undervalued according to InvestingPro analysis. The purchase, valued at approximately $1 million, was made at a price of $0.50 per share, near the 52-week low of $0.45. Following this transaction, Bagley holds a total of 12,590,528 shares in the telecommunications equipment company, representing a significant portion of ClearOne’s $12.15 million market capitalization. Bagley, who is a ten-percent owner, has been actively involved in stock transactions related to ClearOne, a company based in Salt Lake City, Utah. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 6.92, while trading at a modest 0.53 times book value. Subscribers can access 5 additional key ProTips and comprehensive financial metrics for deeper analysis.
In other recent news, ClearOne Inc. is facing a potential delisting from Nasdaq due to a delay in holding its annual stockholders’ meeting, as mandated by Nasdaq Marketplace Rule 5620(a). The company has until February 24, 2025, to submit a compliance plan and may receive an extension until June 30, 2025, if the plan is accepted. Additionally, ClearOne has been granted an extra 180 days to meet Nasdaq’s minimum bid price requirement, extending the deadline to June 16, 2025. The company is considering a reverse stock split to address this issue, pending shareholder approval.
ClearOne has also announced stock option grants to its CEO, Derek Graham, and CFO, Simon Brewer, as part of their 2024 compensation. These grants are intended to retain the executives amid ongoing strategic reviews, including potential mergers or sales. The options allow Graham and Brewer to purchase shares at $0.47 each, with expiration set for November 26, 2030. These developments are part of ClearOne’s broader strategy to explore various options aimed at maximizing shareholder value, including potential significant changes in corporate structure and ownership.
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