India, July 1 -- Shares of ClearOne, Inc. (CLRO) are surging more than 100% in pre-market after the company announced a special dividend on its common stock and any common stock equivalents with dividend rights to provide its shareholders with a 100% stake in the proceeds from any sale of its assets in future.
ClearOne noted that this special dividend is part of its ongoing strategic process and in support of its previously disclosed plan to pursue one or more transactions, including the asset sale, and involves issuing to holders of common stock and common stock equivalents one share of the company's Class A redeemable preferred stock for every share they hold. Upon completion of any asset sale, the Class A preferred stock shall be redeem...