On 1 April 2025, Qualcomm Incorporated announced that it was considering making an offer to acquire the entire issued and to be issued share capital of Alphawave Semi (LON:AWE), Alphawave IP Group plc.
The announcement of 1 April 2025 stated that the deadline by which Qualcomm was required either to announce a firm intention to make an offer for Alphawave in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies, was 5.00 p.m. (London time) on 29 April 2025. That deadline was first extended to 5.00 p.m. on 12 May 2025, then extended to 5.00 p.m. on 27 May 2025, and then further extended to 5.00 p.m. on 2 June 2025 (the “PUSU Deadline”).
Alphawave and Qualcomm remain engaged in discussions in respect of a possible offer. Accordingly the Board of Alphawave and the Panel on Takeovers and Mergers (the “Takeover Panel”) have consented to an extension of the PUSU Deadline.
Consequently, in accordance with Rule 2.6(c) of the Code, Qualcomm is now required, by not later than 5.00 p.m. (London time) on 5 June 2025, to either announce a firm intention to make an offer for Alphawave in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended by the Board of Alphawave with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.
There can be no certainty that a firm offer will be made, nor as to the terms on which it will be made. A further announcement will be made as and when appropriate.
This announcement has been made by Alphawave Semi with the consent of Qualcomm.
