News

2 July 2010

 

GigOptix prices public offering to raise $4.8m

GigOptix Inc of Palo Alto, CA, USA, which designs modulator and laser drivers and transimpedance amplifier (TIA) ICs based on III-V materials as well as polymer electro-optic modulators, has announced the pricing of a public offering of 2,460,000 shares of common stock at a price of $1.75 per share. GigOptix has also granted the underwriters a 30-day option to purchase up to 300,000 additional shares to cover over-allotments, if any.

The offering is expected to close on or about 8 July, subject to customary closing conditions. If the underwriters exercise their over-allotment option in full, the proceeds of the offering will be about $4.8m (before deducting underwriting discounts and commissions and estimated offering expenses payable by GigOptix of about $1m).

Raising additional funds in the current challenging market environment will enable GigOptix to accelerate its ongoing growth and customer penetration, reckons president & CEO Dr Avi Katz, adding that GigOptix is striving to expand the institutional holdings within its shareholder base.

The offering is being made under GigOptix’s registration statement on Form S-1 filed with the US Securities and Exchange Commission (declared effective on 1 July). A preliminary prospectus supplement has been filed with the SEC. A copy of the prospectus and final prospectus supplement can be obtained from the sole manager of the offering, Roth Capital Partners LLC.

See related item:

GigOptix reports record revenue of $5.3m in Q1

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