28 July 2010


Exercise of over-allotment option boosts GigOptix public offering to $4.83m

GigOptix Inc of Palo Alto, CA, USA, which designs modulator and laser drivers and transimpedance amplifier (TIA) ICs based on III-V materials as well as polymer electro-optic modulators, says that Roth Capital Partners (the sole manager of its public offering of 2,460,000 shares completed on 8 July) has fully exercised its over-allotment option and purchased 300,000 additional shares at a price of $1.75 per share. 

The total of 2,760,000 shares that were sold raises gross proceeds of $4.83m. However, this does not include estimated expenses (including the underwriters’ discount and non-accountable expense reimbursement) of about $1m. 

The firm plans to use net proceeds for working capital, strategic growth and other general corporate purposes.

See related items:

GigOptix grows 19% sequentially to record revenue of $6.3m for Q2

GigOptix prices public offering to raise $4.8m

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