PDF Solutions raises $85.7 million in public stock offering

PDF Solutions Inc. (NASDAQ: PDFS) completed an underwritten public offering of 5,253,554 shares of common stock at $44.00 per share, the company announced. The offering included 1,946,630 shares sold by the company and 3,306,924 shares sold by Advantest America Inc.

The company received gross proceeds of approximately $85.7 million from its portion of the sale before deducting underwriting discounts, commissions and estimated offering expenses. PDF Solutions did not receive proceeds from shares sold by Advantest America.

The offering included 685,246 additional shares from the company following the underwriters' full exercise of their greenshoe option to purchase additional shares.

Morgan Stanley served as sole active book-running manager for the offering. Wells Fargo Securities, Societe Generale and Needham & Company also acted as book-running managers. Rosenblatt, D.A. Davidson & Co. and Northland Capital Markets served as co-managers.

The securities were offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on May 13, which became effective upon filing.

PDF Solutions provides data solutions for the semiconductor and electronics industry to improve manufacturing yield, quality and operational efficiency. The Santa Clara, California-based company was founded in 1991 and operates across North America, Europe and Asia.

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