15 March 2013

Anadigics prices underwritten public offering of common stock

GaAs-based broadband wireless and wireline communications component maker Anadigics Inc of Warren, NJ, USA has priced its underwritten public offering of 10,000,000 shares of its common stock (announced on 13 March) at $2.00 per share.

The firm has also granted underwriters a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 1,500,000 shares in connection with the offering. After deducting the underwriting discount and estimated offering expenses, the firm expects to receive net proceeds of about $18.4m, assuming no exercise of the option.

The offering is expected to close on 19 March, subject to customary closing conditions. Needham & Company LLC is acting as the sole book-running manager. Craig-Hallum Capital Group LLC is acting as co-manager.

Anadigics intends to use the net proceeds from the offering for working capital and general corporate purposes.
The shares are being offered by Anadigics pursuant to a shelf registration statement on Form S-3 previously filed with and subsequently declared effective by the US Securities and Exchange Commission). The securities may be offered only by means of a prospectus. A preliminary prospectus supplement relating to the offering was filed with the SEC on 13 March and a final prospectus supplement relating will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.

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