Steel Excel Inc. entered into stock purchase agreement to acquire iGo, Inc. (OTCPK : IGOI) from certain stockholders on January 7, 2022. Cash price per share is $5.5 million. Following the acquisition of shares pursuant to the stock purchase agreements, Steel Excel will own more than 90% of iGo's outstanding shares. All remaining shares of iGo common stock not owned by Steel Excel immediately prior to the merger (other than treasury shares held by iGo, any shares owned by any direct or indirect subsidiary of Steel Excel or iGo, and any shares held by any iGo stockholder who has properly demanded appraisal rights) will be converted into the right to receive per share consideration of $5.50 in cash, without interest, less any deductions or withholding of taxes required by applicable law. Upon completion of the merger, iGo will become an indirect wholly owned subsidiary of Steel Excel. iGo common stock will no longer be traded on the OTC Markets. Steel Excel expects to merge with iGo on January 14, 2022 without a vote or meeting of iGo's stockholders pursuant to a short-form merger under the General Corporation Law of the State of Delaware.

Steel Excel Inc. completed the acquisition of iGo, Inc. (OTCPK : IGOI) from certain stockholders on January 14, 2022.