GigOptix, Inc. Announces Closing of Public Offering of Common Stock

Date Announced: 01 Jan 2014

Component maker raises $12.6M on stock market.

SAN JOSE, Calif.--(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 closing on December 24, 2013 of its previously announced public offering of 9,573,750 newly issued shares of common stock at a price to the public of $1.42 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 $12.6 million after underwriting discounts and commissions.

As previously announced, 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 acted as sole book-running manager for the offering. Craig-Hallum Capital Group acted as co-lead manager for the offering.

Source: Gigoptix

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