21 August 2015

GigOptix prices public offering at $1.70 per share to raise $14.7m

GigOptix Inc of San Jose, CA, USA (a fabless supplier of analog semiconductor and optical communications components for fiber-optic and wireless networks) has priced its underwritten public offering of 9,218,000 newly issued shares of common stock (announced on 20 August) at $1.70 per share. The firm expects to receive gross proceeds of $15.67m (before deducting underwriting discounts and other estimated offering expenses). The underwriters have also been granted a 30-day option to purchase up to 1,425,000 shares to cover over-allotments, if any.

Net proceeds are expected to be about $14.73m (after deduction of underwriting discounts and assuming no exercise of the underwriters' over-allotment option).

In addition, certain officers and directors as selling stockholders sold 282,000 shares of previously issued shares of common stock in the underwritten public offering at a price of $1.70 per share. GigOptix is receiving none of the proceeds from the sale of shares by the selling stockholders.

Subject to customary conditions, the offering is expected to close on 26 August.

GigOptix expects to use the net proceeds (from the shares it is selling) for potential acquisitions for strategic growth, including the acquisition of critical technologies and scalable businesses. The firm says that focus will be on multiple attractive global targets, including entities that it has been tracking for the last couple of years.

Cowen and Company LLC and Roth Capital Partners are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC is acting as co-manager.

See related items:

GigOptix public offering to support enhanced strategic growth through acquisitions

Tags: Peregrine CMOS SOI

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