Investors receive one right for every common share held as of Sept. 26
By Devika Patel
Knoxville, Tenn., Oct. 20 – Ikanos Communications, Inc. offered further details about its $59.42 million rights offering in a Form S-1 filed Monday with the Securities and Exchange Commission. The deal priced Sept. 29.
The company will sell 144,925,083 rights. Investors will receive one right for every common share held as of 5 p.m. ET on Sept. 26. Each subscription right will allow the holder to buy 1.459707 common shares at $0.41 per share, which is a 17.14% premium to the Sept. 26 closing share price of $0.35.
Proceeds will be used for working capital and general corporate purposes and for capital expenditures.
Ikanos is based in Fremont, Calif. It makes semiconductors and integrated firmware for the digital home.
| Issuer: | Ikanos Communications, Inc.
|
| Issue: | Common stock
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| Amount: | $59,419,284
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| Shares: | 144,925,083
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| Price: | $0.41
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| Warrants: | No
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| Pricing date: | Sept. 29
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| Stock symbol: | Nasdaq: IKAN
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| Stock price: | $0.35 at close Sept. 26
|
| Market capitalization: | $35.95 million
|
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