Adesto Technologies Corporation Announces Proposed Public Offering of Common Stock
June 29 2018 - 7:05AM
Adesto Technologies (NASDAQ:IOTS), a leading provider of innovative
application-specific semiconductors for the IoT era, today
announced that it intends to offer and sell shares of its common
stock in an underwritten public offering.
The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering will
be completed, or as to the actual size or terms of the offering.
All shares in the offering are to be issued and sold by Adesto.
Adesto intends to use the net proceeds of the offering in part to
finance its recently announced acquisition of Echelon Corporation.
This offering is not contingent upon the consummation of the
acquisition of Echelon Corporation. In the event that Adesto does
not consummate the acquisition, Adesto intends to use the net
proceeds from the offering for general corporate purposes, which
may include other future acquisitions or investments in businesses,
products or technologies that are complementary to Adesto.
Cowen, Needham & Company, Canaccord Genuity and ROTH Capital
Partners are acting as joint book running managers for the
offering.
A shelf registration statement relating to the shares of common
stock offered in the public offering described above was filed with
the Securities and Exchange Commission (“SEC”) on May 9, 2018 and
declared effective by the SEC on June 27, 2018. The common stock
may be offered only by means of a prospectus, including a
prospectus supplement, that forms a part of the effective
registration statement. A preliminary prospectus supplement and
accompanying base prospectus relating to the offering will be filed
with the SEC and will be available on the SEC’s website at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and accompanying base prospectus relating to this offering may be
obtained from Cowen and Company, LLC, c/o Broadridge Financial
Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention:
Prospectus Department or by telephone at (631) 274-2806; Needham
& Company, LLC, 250 Park Avenue, New York, NY 10177, Attention:
Prospectus Department, by telephone at (800) 903-3268 or by email
at prospectus@needhamco.com; Canaccord Genuity LLC, Attention:
Equity Syndicate Department, 99 High Street, 12th Floor, Boston,
Massachusetts 02110, by telephone at (617) 371-3900, or by email at
prospectus@canaccordgenuity.com; or ROTH Capital Partners, LLC, 888
San Clemente Drive, Newport Beach, CA 92660, Attention: Prospectus
Department, by telephone at (800) 678-9147 or by email at
rothecm@roth.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer,
solicitation or 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.
About Adesto TechnologiesAdesto Technologies
(NASDAQ:IOTS) is a leading provider of innovative
application-specific semiconductors for the IoT era. The company’s
technology is used by more than 2,000 customers worldwide who are
creating differentiated solutions across industrial, consumer,
medical and communications markets. With its growing portfolio of
high-value technologies, Adesto is helping its customers usher in
the era of the Internet of Things. See: www.adestotech.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995
and other federal securities laws. Forward-looking statements can
be identified by words such as: “anticipate,” “intend,” “plan,”
“goal,” “seek,” “believe,” “project,” “estimate,” “expect,”
“strategy,” “future,” “likely,” “may,” “should,” “will” and similar
references to future periods. Any statements contained herein
which do not describe historical facts, including but not limited
to statements regarding the uncertainties related to whether Adesto
will be able to raise capital through the sale of shares of common
stock, expected use of proceeds, the time frame in which the
acquisition will occur and Adesto’s financing of the acquisition
and final terms of the proposed offering are forward-looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those discussed in such
forward-looking statements. Such risks and uncertainties include,
among others, the risks identified in Adesto’s filings with
the SEC, including its Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2018, filed with
the SEC on May 10, 2018, the preliminary prospectus
supplement related to the proposed public offering and subsequent
filings with the SEC. Any of these risks and uncertainties
could materially and adversely affect Adesto’s results of
operations, which would, in turn, have a significant and adverse
impact on Adesto’s stock price. Adesto cautions you not to place
undue reliance on any forward-looking statements, which speak only
as of the date they are made. Adesto undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events.
Adesto Technologies and the Adesto logo are trademarks of Adesto
Technologies in the United States and other regions. All other
trademarks are property of their respective owners.
Adesto Technologies Media Contact:Jen
Bernier-Santarini+1 650-336-4222press@adestotech.com
Adesto Technologies Investor Relations:Leanne
K. Sievers Shelton Group949-224-3874sheltonir@sheltongroup.com
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