Vitesse Semiconductor (VTSS) Prices 7.46M Common Offering at $3.35/Share
- Dollar General (DG) Boosts Offer for Family Dollar (FDO) to $80/Share
- Pre-Open Stock Movers 9/2 (HGSH) (DGLY) (CPWR) Higher; (EXEL) (CONN) (RIBT) Lower (more...)
- Thoma Bravo to Acquire Compuware (CPWR) in $2.5B Deal
- New Orders Growth Pushes Manufacturing ISM to Three-Year High
- Will GoPro (GPRO) Take the On-Officer Camera Market by Storm?
Vitesse Semiconductor (Nasdaq: VTSS) announced the pricing of an underwritten public offering of 7,462,675 shares of its common stock at a price to the public of $3.35 per share. After deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $23.2 million, assuming no exercise of the over-allotment option. The Company has also granted to the underwriters a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 1,119,401 shares to cover over-allotments in connection with the offering.
The offering is expected to close on or about June 17, 2014, subject to customary closing conditions. Needham & Company, LLC is acting as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC, The Benchmark Company, LLC and Northland Securities, Inc. are acting as co-managers.
Vitesse intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares described above are being offered by Vitesse pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission.
You May Also Be Interested In
- Ascent Solar Technologies (ASTI) Enters $8M SPA Led by TFG Radiant Investment
- Vitesse to Present at the Craig-Hallum Alpha Select Conference
- UPDATE: Quest Resource Holding (QRHC) Files $50M Mixed Shelf
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesNeedham & Company, The Benchmark Company, Northland Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!