GigOptix, Inc. Announces Pricing of Public Offering of Common Stock
December 19 2013 - 8:01AM
Business Wire
GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced
semiconductor communications components for use in Cloud
connectivity, data centers, and high-speed optical and wireless
networks, today announced the pricing of its underwritten public
offering of an aggregate of 8,325,000 newly issued shares of common
stock at a price of $1.42 per share. The Company expects to receive
gross proceeds of $11.8 million, 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. The net
proceeds to the Company from the Offering are expected to be
approximately $11.0 million 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 December 24, 2013.
The Company expects to use the net proceeds from the offering
for working capital and other general corporate purposes. The
Company 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 for the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Copies of the
final prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from Roth Capital
Partners, 888 San Clemente, Suite 400, Newport Beach, CA 92660,
(800) 678-9147 or by accessing the SEC’s website, www.sec.gov.
About GigOptix, Inc.
GigOptix is a leading fabless supplier of high speed
semiconductor components that enable end-to-end information
streaming over the network and address emerging high-growth
opportunities for Cloud connectivity, datacenters and high-speed
optical and wireless networks, and the industrial, defense and
avionics industries. GigOptix offers a unique broad portfolio of
Drivers, TIAs and TFPSTM optical modulators for 40G, 100G and 400G
fiber-optic telecommunications and data-communications networks,
and high performance MMIC solutions that enable next generation
wireless microwave systems up to 90GHz. GigOptix also offers a wide
range of digital and mixed-signal ASIC solutions and enables
product lifetime extension through its GigOptix Sunset Rescue
Program.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the Company’s expectations
regarding the completion of the public offering. These statements
are based on management’s current expectations. Forward-looking
statements involve certain risks and uncertainties, and actual
results and the timing of events may differ materially from those
discussed or implied in any such statement. These risks include,
but are not limited to the satisfaction of the conditions of the
closing of the public offering, market conditions and other risks
related to the Company’s business and operations as are discussed
under the heading "Risk Factors" and in other sections of the
Company's filings with the SEC, and in the Company's other current
and periodic reports filed or furnished from time to time with the
SEC. All forward-looking statements in this press release are made
as of the date hereof, based on information available to the
Company as of the date hereof, and the Company assumes no
obligation to update any forward-looking statement.
GigOptix, Inc.Josh Nakaska, 408-522-3172Marketing
Directorjnakaska@gigoptix.comorInvestor Relations:Darrow
Associates, Inc.Jim Fanucchi, 408-404-5400ir@gigoptix.com
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