Simi Valley, California-based Rexon Inc has now completed its previously announced acquisition of Digital Audio Tape drive maker WangDAT Inc for $12m, made up of 994,016 shares of common stock, prime rate convertible subordinated promissory notes in the principal amount of $4.83m and $71,145 in cash: to enable former shareholders to cash in, Rexon will file a registration statement for the shares to be sold from time to time; Rexon has three other independent subsidiaries – Wangtek, making quarter inch cartridge and Digital Audio Tape drives and drive subsystems; Tecmar, which produces personal computer enhancement products; and Sytron, which develops and markets software for file back-up and archival systems for micros.
