News Article
GigOptix closes public offering of common stock
The net proceeds from the offering are expected to be used for working capital and other corporate purposes and possibly licensing or acquiring intellectual property or technologies
On December 24th 2013, GigOptix, Inc., closed a public offering of 9,573,750 newly issued shares of common stock at a price to the public of $1.42 per share.
Gigoptix is a supplier of advanced semiconductor communications components for use in Cloud connectivity, data centres, and high-speed optical and wireless networks.
The number of shares sold in the offering includes the underwriter’s full exercise on December 24th, 2013 of their over-allotment option of 1,248,750 shares of common stock. The net proceeds to the company from the offering were approximately $12.6 million after underwriting discounts and commissions.
The company expects to use the net proceeds from the offering for working capital and other general corporate purposes. Gigoptix may also use a portion of the net proceeds for licensing or acquiring intellectual property or technologies to incorporate in its products, capital expenditures, to fund possible investments in and acquisitions of complementary businesses, partnerships, and minority investments.
Roth Capital Partners acted as sole book-running manager for the offering. Craig-Hallum Capital Group acted as co-lead manager for the offering.
Gigoptix is a supplier of advanced semiconductor communications components for use in Cloud connectivity, data centres, and high-speed optical and wireless networks.
The number of shares sold in the offering includes the underwriter’s full exercise on December 24th, 2013 of their over-allotment option of 1,248,750 shares of common stock. The net proceeds to the company from the offering were approximately $12.6 million after underwriting discounts and commissions.
The company expects to use the net proceeds from the offering for working capital and other general corporate purposes. Gigoptix may also use a portion of the net proceeds for licensing or acquiring intellectual property or technologies to incorporate in its products, capital expenditures, to fund possible investments in and acquisitions of complementary businesses, partnerships, and minority investments.
Roth Capital Partners acted as sole book-running manager for the offering. Craig-Hallum Capital Group acted as co-lead manager for the offering.
