Solid-state hard drive maker OCZ Technology Group Inc said it had received an offer from Toshiba Corp to purchase the company in a planned bankruptcy proceeding.OCZ shares tumbled as much as 80 percent on Wednesday after trading of the stock resumed on the Nasdaq. The stock had fallen 69 percent so far this year through Tuesday's close.OCZ, which has a market capitalization of $43 million, said it had "substantially completed" negotiations with Toshiba on an asset purchase agreement.The company said it expected to file a petition for bankruptcy shortly after completing final documentation with Toshiba and Hercules Technology Growth Capital Inc, one of its lenders.
Hercules Technology Growth Capital, Inc. (HTGC) is an internally managed, non-diversified closed-end investment company. Shares of HTGC traded higher by 0.59% or $0.1/share to $17.09. In the past year, the shares have traded as low as $10.39 and as high as $17.23. On average, 451034 shares of HTGC exchange hands on a given day and today's volume is recorded at 366132.
OCZ Technology Group, Inc. (OCZ) designs, manufactures, and distributes solid-state drives (SSDs) and computer components. Shares of OCZ fell by 74.6% or $-0.47/share to $0.16. In the past year, the shares have traded as low as $0.39 and as high as $2.77. On average, 1409130 shares of OCZ exchange hands on a given day and today's volume is recorded at 17034972.
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