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 IP Group Plc (LON:AWE), Alphawave Semi.
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 has subsequently been extended four times and, on the most recent occasion, to 5.00 p.m. on 5 June 2025.
Alphawave Semi and Qualcomm remain engaged in discussions in respect of a possible offer. Accordingly the Board of Alphawave and the Panel on Takeovers and Mergers 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 9 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.
