Lantronix (LTRX) Expands Board in a Cooperation Agreement With an Investor Group

Lantronix, Inc. (NASDAQ:LTRX) is one of the most popular AI penny stocks to buy according to billionaires. On June 30, the company expanded its Board of Directors after finalizing a cooperation agreement with an investor group. The investor group comprises Emre Aciksoz, Haluk L. Bayraktar, and Chain of Lakes Investment Fund LLC.

Under the terms of the agreement, James C. Auker was appointed to the Lantronix Board of Directors and will be nominated for election at the company’s 2025 Annual Meeting of Stockholders. The agreement stipulates that the size of the Board will be increased from five to six directors with Auker’s appointment. On their part, the investor group agreed to customary standstill and voting commitments to support cooperative governance and management practices.

The agreement aims to enhance shareholder value through strategic collaboration and cooperation. Further, Lantronix committed to engage a financial advisor within 60 days of Auker’s appointment to explore opportunities for value creation.

Lantronix, Inc. (NASDAQ:LTRX) is a global provider of compute and connectivity solutions for IoT and Edge AI applications. Its portfolio includes AI-enabled gateways, embedded systems, and camera modules designed for smart cities, industrial automation, and autonomous navigation.

While we acknowledge the potential of LTRX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Top 10 Materials Stocks to Buy According to Analysts and 10 Best Defensive Stocks to Buy in a Volatile Market.

Disclosure: None. This article is originally published at Insider Monkey.