14 August 2012

Peregrine closes IPO as underwriters exercise option

Peregrine Semiconductor Corp of San Diego, CA, USA, a fabless provider of radio-frequency (RF) integrated circuits (ICs) based on silicon-on-sapphire (SOS) founded in 1990, has closed its initial public offering (announced on 7 August). In connection with the IPO, the underwriters have now exercised in full their option to purchase an additional 825,000 of common stock at the public offering price of $14 per share, minus underwriting discounts and commissions.

The underwriters were led by Deutsche Bank Securities Inc and J.P. Morgan Securities LLC, and also included RBC Capital Markets LLC, Needham & Company LLC, Oppenheimer & Co Inc, and Pacific Crest Securities LLC.

The full exercise of the option raises the total number of shares sold in the IPO from 5,500,000 to 6,325,000. Of the shares in the offering, selling stockholders sold 159,220 and Peregrine hence sold 6,165,780. Total net proceeds received by Peregrine were about $79.2m, after underwriting discounts and commissions and estimated offering expenses payable by the firm. Peregrine did not receive any proceeds from the sale of shares by the selling stockholders.

See related items:

Peregrine raises $77m in IPO

Tags: Peregrine Semiconductor

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