Celeritek Prices Its Follow-on Public Offering
Santa Clara, CA. Celeritek, Inc., (Nasdaq: CLTK) announced today the sale of 2,000,000 shares of its common stock at a price per share of $46.50. The shares are being offered through an underwriting group lead managed by CIBC World Markets and co-managed by Prudential Volpe Technology Group, a unit of Prudential Securities, and Needham & Company Inc. Celeritek has granted the underwriters an option to purchase up to 300,000 additional shares of common stock to cover over-allotments, if any.
A copy of the prospectus relating to this offering may be obtained from the prospectus departments of CIBC World Markets, One World Financial Center, 200 Liberty Street, New York, NY 10281 212-667-7000, Prudential Securities, 111 8th Ave., 5th Floor, New York, NY 10011 212-776-8190, or Needham & Company, 445 Park Ave., New York, NY 10022 212-371-8300.
Celeritek designs and manufactures gallium arsenide, or GaAs, semiconductor components and GaAs-based subsystems used in the transmission of voice, video and data over wireless communication networks. Celeritek s products are used in applications such as point to point and point to multipoint microwave radios, satellite transceivers and high capacity wireless SONET/SDH networks. Celeritek is headquartered in Santa Clara, California. In addition, Celeritek has facilities in England and Northern Ireland.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.
Contact: Peggy Smith of Celeritek Tel: 408-986-5060
Peggy Smith of Celeritek
Tel: 408-986-5060
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