News Article
Nitronex announces $16m stock offering
Nitronex has revealed a $16 million stock offering.
Compound semiconductor manufacturer Nitronex has announced plans for a $16 million (£10.74 million) stock offering in order to boost its operations.
Triangle Business Journal reported the company plans to invest the funds in increasing its sales for both military and commercial markets, as there is a growing trend for the incorporation of gallium nitride (GaN) on silicon wafer technology into the next generation of products.
Chief executive officer of Nitronex Charlie Shalvoy said this is the third round of financing for the firm, with the company s four main backers - Alloy Ventures, Arch Ventures, Diamondhead Ventures and Intersouth Partners - having already input in excess of $50 million.
He commented: "A lot of the seeds we planted a year, two years, even three years ago are now starting to sprout."
Nitronex was founded in 1999 and claims to be at the forefront of developing GaN compound semiconductor products for use in radio frequency applications.
Triangle Business Journal reported the company plans to invest the funds in increasing its sales for both military and commercial markets, as there is a growing trend for the incorporation of gallium nitride (GaN) on silicon wafer technology into the next generation of products.
Chief executive officer of Nitronex Charlie Shalvoy said this is the third round of financing for the firm, with the company s four main backers - Alloy Ventures, Arch Ventures, Diamondhead Ventures and Intersouth Partners - having already input in excess of $50 million.
He commented: "A lot of the seeds we planted a year, two years, even three years ago are now starting to sprout."
Nitronex was founded in 1999 and claims to be at the forefront of developing GaN compound semiconductor products for use in radio frequency applications.
