MagnaChip (MX) Announces 5M Common Offering

February 4, 2013 4:01 PM EST
MagnaChip Semiconductor Corporation (NYSE: MX) announced that, subject to market conditions, certain of its stockholders (the "selling stockholders") intend to offer and sell 5,000,000 shares of MagnaChip's common stock in an underwritten registered public offering. In addition, the selling stockholders intend to grant the underwriters of the common stock an option to purchase an additional 750,000 shares of common stock. MagnaChip will not receive any proceeds from the sale of its common stock by the selling stockholders.

Barclays Capital Inc., Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and UBS Securities LLC will act as joint book-running managers for the proposed offering. Needham & Company, LLC will act as co-manager.

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