Boston, MA 05/24/2013 (wallstreetpr) – The share prices of Chyronhego Corp. (NASDAQ:CHYR) surged to an intraday high level of $1.77 per share before closing at $1.51 per share for the trading session. This was observed to be a gain of 11.02 percent over the closing price of previous day. This increase in prices of Chyronhego Corp. (NASDAQ:CHYR) had led the company to readjust to its new 52 week high price level of $1.77 per share.
Merger of Chyron Corp and Hego AB
The leading provider of Graphics services for on-air and digital video applications, Chyron Corp. (NASDAQ:CHYR) had finally completed the merger with Hego AB to form Chyronhego Corp. Based in Melville, New York, the combined company would continue to trade in NASDAQ with the symbol CHYR. With the joining forces of the two industry pioneers, the merged company would move to become the leader in industry in broadcast graphics creation, real time data visualization and playout.
The merger deal was completed with the shareholders of Hego AB owning 40 percent stake and the shareholders of former Chyron Corp owning 60 percent stake in the new Chyronhego Corp. (NASDAQ:CHYR). Further, the deal also provides for the shareholders of Hego AB to acquire additional stake in the common stock of Chyronhego Corp. (NASDAQ:CHYR) once the company achieves certain specified milestones in the forthcoming years.
The total number of shares outstanding for Chyronhego Corp. (NASDAQ:CHYR) in the market is 17.43 million shares and the average trading volume for the company is 19,408 shares per day.
