Semtech (SMTC) has entered into a Cooperation Agreement with Lion Point Capital, LP, an investment firm and one of the company's largest stockholders. Under the terms of the Cooperation Agreement, Semtech and Lion Point will confer with one another on the appointment of two independent directors to Semtech's Board, ultimately to be selected by Lion Point after receiving the views of Semtech.
Semtech will commence a search and confer with Lion Point on the appointment of two
additional independent directors, ultimately to be selected by the company after receiving the views of Lion Point.
Lion Point has agreed to customary standstill, voting, and other provisions.
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