22 May 2012

GigOptix announces final results of modified Dutch auction tender offer

GigOptix Inc of San Jose, CA, USA (a fabless supplier of semiconductor and optical components for high-speed information streaming) has announced the final results of its modified Dutch auction tender offer, which expired on 15 May (after being extended from 24 April).

A total of 1,693,614 shares of the firm’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share.

GigOptix acquired 701,754 shares, for an aggregate cost of about $2m (excluding fees and expenses relating to the tender offer). These shares represent about 3.25% of the common stock outstanding as of 27 March (the last trading day before commencement of the tender offer).

Due to the oversubscription of the tender offer, GigOptix accepted for purchase about 41% of the shares properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share by each tendering stockholder (other than ‘odd lot’ holders whose shares were purchased on a priority basis).

The depositary will promptly issue payment for the shares validly tendered and accepted for purchase in accordance with the terms and conditions of the tender offer. Shares tendered and not accepted for purchase will be returned promptly to stockholders by the depositary.

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GigOptix launches modified Dutch auction tender offer

Tags: GigOptix

Visit: www.gigoptix.com