Allegro MicroSystems, Inc. (ALGM) Prices 25M Share IPO at $14/Sh
Get Alerts ALGM Hot Sheet
Join SI Premium – FREE
Allegro MicroSystems, Inc. (NASDAQ: ALGM), a global leader in sensing and power semiconductor technology, announced today the pricing of its initial public offering of 25,000,000 shares of its common stock at a price to the public of $14.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALGM” on October 29, 2020. The gross proceeds of the offering, before deducting the underwriting discount and offering expenses, are expected to be $350.0 million. The offering is expected to close on November 2, 2020, subject to customary closing conditions.
Certain stockholders of Allegro have granted the underwriters a 30-day option to purchase up to 3,750,000 additional shares of common stock. Allegro will not receive the proceeds from any sale of common stock by such stockholders.
Barclays, Credit Suisse, and Wells Fargo Securities are serving as joint lead book-running managers for the offering. Jefferies, Mizuho Securities, Needham & Company and SMBC Nikko are also acting as book-running managers for the offering.
The offering is being made only by means of a prospectus.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- Veg House Holdings (VEG) Announces 1M Share IPO at $5/sh
- Wells Fargo Upgrades Neurocrine Bio. (NBIX) to Overweight 'as the Company is Knocking on the Doors of the Large-Cap Club'
Create E-mail Alert Related Categories
Corporate News, Equity Offerings, IPOsRelated Entities
Credit Suisse, Jefferies & Co, Needham & Company, Barclays, Wells Fargo, IPOSign 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!