GigOptix Inc of San Jose, CA, USA (a fabless supplier of analog semiconductor and optical communications components for fiber-optic and wireless networks) says that the underwriters in its public offering, (announced on 21 August) have - pursuant to the terms of an underwriting agreement - exercised in full their option to purchase 1,425,000 newly issued shares of common stock at $1.70 per share to cover over-allotments. Net proceeds to the firm from the offering were about $2.28m (after underwriting discounts and commissions).
GigOptix expects to use the net proceeds from the stock offering for potential acquisitions for strategic growth, including acquiring critical technologies and scalable businesses. The firm says the focus will be on multiple attractive global targets, including entities that it has been tracking for the last couple of years.
Cowen and Company LLC and Roth Capital Partners acted as joint book-running managers for the offering. Craig-Hallum Capital Group LLC acted as co-manager.
