GigOptix closes public offering at USD1.42 per share

GigOptix, Inc. (NYSE: GIG) said it has closed public offering of 9,573,750 newly issued shares of common stock at a price to the public of USD1.42 per share.

The number of shares sold in the offering includes the underwriter´s full exercise on December 24, 2013 of their over-allotment option of 1,248,750 shares of common stock. The net proceeds to the company from the offering were approximately USD12.6m after underwriting discounts and commissions.

The company said it expects to use the proceeds 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 acted as sole book-running manager for the offering. Craig-Hallum Capital Group acted as co-lead manager for the offering.

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.

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