ENWV Endwave Corp. (MM)

SAN JOSE, Calif., May 23 /PRNewswire-FirstCall/ -- Endwave Corporation (NASDAQ:ENWV) today announced that it has entered into a settlement agreement and related registration rights agreement with the court-appointed receiver for Wood River Capital Management and its affiliates. Under the agreements, Endwave is required to file a shelf registration statement covering the resale of the Endwave shares held by the Wood River entities and the receiver may request, at any time before the first anniversary of the date the shelf registration is declared effective, that Endwave assist in a public offering of such shares. Upon completion or termination of any such offering, the receiver will be required to pay Endwave $425,000 for out-of-pocket expenses incurred by Endwave arising out of the Wood River entities' accumulation of Endwave common stock and will also be required to pay Endwave's expenses in connection with the offering, subject to limitations set forth in the registration rights agreement. The settlement agreement includes mutual releases by both Endwave and the receiver that will become effective upon the payment of such amounts. About Endwave Endwave Corporation designs, manufactures and markets RF modules that enable the transmission, reception and processing of high-frequency signals in telecommunications networks, defense electronics and homeland security systems. These RF modules include high-frequency integrated transceivers, amplifiers, synthesizers, oscillators, up and down converters, frequency multipliers and microwave switch arrays. Endwave has 42 issued patents covering its core technologies including semiconductor and proprietary circuit designs. Endwave Corporation is headquartered in San Jose, CA, with operations in Diamond Springs, CA; El Dorado Hills, CA; Andover, MA; and Chiang Mai, Thailand. Additional information about the company can be accessed from the company's web site at http://www.endwave.com/. This announcement is neither an offer to sell nor a solicitation to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Contact: Mary McGowan Summit IR Group, Inc. 408-404-5401 DATASOURCE: Endwave Corporation CONTACT: Mary McGowan of Summit IR Group, Inc., +1-408-404-5401, , for Endwave Corporation Web site: http://www.endwave.com/

Copyright