The Panda Project Inc is no more. The Boca Raton, Florida-based company – which started out making stylish and processor- independent servers and workstations and then sold its systems business to concentrate on semiconductor packaging – said late Friday that it has agreed to sell its assets to Silicon Bandwidth Inc.
Panda said it will turn over its intellectual property portfolio and the fixed assets related to its interconnect and semiconductor business for an undisclosed price. Also as part of the deal, the company says, it has restructured its outstanding loans, which have been in default since February. Silicon Bandwidth will assume the loans upon closing. The holders of Panda’s preferred stock will receive $0.261 per share in the arrangement.
