CEVA commences public offering of 3 million shares

Ceva Inc. (NASDAQ: CEVA) announced it has commenced an underwritten public offering of 3 million shares of common stock. The company has granted underwriters a 30-day option to purchase up to an additional 450,000 shares.

The shares are expected to be listed for trading on the Nasdaq Global Select Market. Ceva stated there is no assurance regarding whether or when the offering may be completed or the actual size or terms.

The company plans to use net proceeds to fund potential acquisitions of or investments in complementary technologies or businesses. Additional uses may include working capital, capital expenditures, share repurchases and other general corporate purposes.

J.P. Morgan serves as lead book-running manager for the offering. UBS Investment Bank acts as junior active book-running manager, while TD Cowen and Stifel serve as additional book-running managers. Needham & Company, Rosenblatt, Roth Capital Partners and Loop Capital Markets are co-managers.

The offering is being made pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on August 7, 2024, which became effective on August 16, 2024.

Ceva develops wireless communications, sensing and Edge AI technologies for smart edge products. The company's IP portfolio includes Bluetooth, Wi-Fi, UWB and 5G platform technologies, along with Edge AI processors and sensor fusion capabilities.

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