A buyout announcement came out this morning for COMX to be acquired by Zonal Hospitality Systems for 7.46 GPB = $9.91. Shares are available now under $9 for anyone wanting to play the arb game. I picked up more shares right at market open.
I first wrote about COMX in Apr 2016 with the stock at $1.60 and gave it a $6 value. I gave COMX a $10 value in my most recent post in Feb 2018, what a guess!
I don't see much risk to the deal going through but there is no date given. Some quotes from the press release:
The board of directors of Comtrex has unanimously approved the transaction and has unanimously determined, subject to customary fiduciary outs, to recommend that Comtrex shareholders vote in favor of the transaction.Patience wins
Holders of more than 50 percent of the outstanding shares of Comtrex common stock have entered into voting agreements with Zonal whereby they have agreed to vote their shares in favor of the transaction.
disclosure: long COMX