26 August 2015

GigOptix closes public offering, raising $14.73m to support strategic growth through acquisitions

GigOptix Inc of San Jose, CA, USA (a fabless supplier of analog semiconductor and optical communications components for fiber-optic and wireless networks) has closed its public offering of 9,218,000 newly issued shares of common stock (announced on 20 August) at a price of $1.70 per share.

Net proceeds to the company (after underwriting discounts and commissions) were about $14.73m. In addition, certain officers and directors as selling stockholders sold 282,000 shares of previously issued shares in the underwritten public offering under an effective equity incentive plan registration statement on file with the US Securities and Exchange Commission (SEC). The firm is receiving none of the proceeds from the sale of shares by the selling stockholders.

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 the 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 acted as joint book-running managers for the offering. Craig-Hallum Capital Group LLC acted as co-manager.

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GigOptix public offering to support enhanced strategic growth through acquisitions

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Visit: www.gigoptix.com