Industry News

GigOptix Closes Public Offering of New Stock

Valerie C. Coffey

January 3, 2014—GigOptix (San Jose, Calif.,U.S.A.) has announced the 24 December closing of its previously announced offering of public common stock. GigOptix, a supplier of advanced semiconductor components for use in high-speed optical and wireless networks, cloud connectivity and data centers, had issued 9,573,750 new shares to the public at $1.42 per share. Among those shares are 1,248,750 shares of common stock designated as an over-allotment option for the underwriter to exercise.

GigOptix gained $12.6 million in net proceeds from the offering after underwriting discounts and commissions.

The company expects to use the proceeds for working capital and other general corporate purposes. GigOptix may also use some of the proceeds for licensing and acquiring intellectual property and technologies to incorporate in its products, capital expenditures, or to fund possible investments in and acquisitions of complementary businesses, partnerships and minority investments.


Add a Comment

comments powered by Disqus