MaxLinear (MXL) Repurchases 1.65M Shares From Venture Capital Investors

August 22, 2012 8:45 AM EDT
MaxLinear, Inc. (NYSE: MXL) today announced that it has executed an agreement to repurchase 1,152,338 shares of its Class A common stock from Mission Ventures and 500,000 shares of its Class B common stock from various funds affiliated with US Venture Partners. Following the repurchase, Mission Ventures will no longer hold any Class A or Class B Common Stock of MaxLinear. USVP will continue to hold an aggregate of 2,396,571 shares of MaxLinear’s Class B common stock and no shares of Class A common stock.

The per share purchase price for all of the shares being repurchased was $5.59, the closing price of MaxLinear’s Class A common stock in trading on the New York Stock Exchange on August 21, 2012, the date of the agreement. The aggregate repurchase price was $9,236,569. The repurchase is subject to standard closing and settlement conditions.

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Good news
Tim J on 2012-08-23 10:06:21
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This is one big vote of confidence on themselves and these VCs would be wise to resist, like they are doing in Chicago

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