GigOptix Inc of San Jose, CA, USA (a fabless supplier of analog semiconductor and optical communications components for fiber-optic and wireless networks) has priced its underwritten public offering of 8,325,000 newly issued shares of common stock (announced on 18 December) at $1.42 per share.
The firm expects to receive gross proceeds of $11.8m (before deducting underwriting discounts and other estimated offering expenses). The underwriters have also been granted a 30-day option to purchase up to 1,248,750 shares of common stock to cover over-allotments, if any. Net proceeds are expected to be about $11m (after deduction of underwriting discounts and assuming no exercise of the underwriters’ over-allotment option). Subject to customary conditions, the offering is expected to close on 24 December.
GigOptix expects to use the net proceeds from the offering for working capital and other general corporate purposes. The firm 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 is acting as sole book-running manager for the offering. Craig-Hallum Capital Group is acting as co-lead manager.
Copies of the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Roth Capital Partners, 888 San Clemente, Suite 400, Newport Beach, CA 92660, Tel: +1 (800) 678-9147 or from www.sec.gov.
