Cowen and Roth Capital are bookrunners; Craig-Hallum is the co-manager
By Devika Patel
Knoxville, Tenn., Aug. 21 – GigOptix, Inc. said it priced a $15.67 million public offering of stock with a $2.42 million greenshoe. The deal was announced on Thursday and will be conducted alongside a $479,400 secondary sale.
The company will sell 9,218,000 common shares at $1.70 per share, and the selling stockholder will sell 282,000 shares at the same price. The price per share is a 20.93% discount to the Aug. 20 closing share price of $2.15.
Cowen and Co., LLC and Roth Capital Partners are the bookrunning managers.
Settlement is expected on Aug. 26.
Proceeds will be used for acquisitions.
The San Jose, Calif., company supplies semiconductor communications components for use in Cloud connectivity, data centers and high-speed optical and wireless networks.
| Issuer: | GigOptix, Inc.
|
| Issue: | Common stock
|
| Amount: | $15,670,600
|
| Greenshoe: | $2,422,500, or 1,425,000 shares
|
| Shares: | 9,218,000
|
| Price: | $1.70
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and Roth Capital Partners
|
| Co-manager: | Craig-Hallum Capital Group LLC
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| Announcement date: | Aug. 20
|
| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
|
| Stock symbol: | NYSE: GIG
|
| Stock price: | $2.15 at close Aug. 20
|
| Market capitalization: | $52.26 million
|
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