We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mindspeed Technologies, Inc. (MM) | NASDAQ:MSPD | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.05 | 0 | 01:00:00 |
Semiconductor solutions provider, QuickLogic Corporation (QUIK), released the pricing of its public offering announced earlier this week. The company plans to issue 7.6 million new shares of common stock at $2.90 per share. The stocks will have a face value of $0.001.
The company also sanctioned a 30-day option to the underwriters for buying an additional 1.14 million shares in case of over-allotment. The offering is expected to close on Nov 15, 2013.
QuickLogic expects to raise gross proceeds of $22 million from this public offering. However, excluding underwriting discounts and presuming that no underwriter exercises the over-allotment option, net proceeds are estimated at roughly $20.6 million.
QuickLogic, the innovator of ultra-low-power Customer Specific Standard Products (CSSP), intends to use the proceeds to meet working capital and general corporate requirements. The funds may also be utilized to cover capital expenditures like investments in and acquisitions of complementary businesses, partnerships, or for buying minority stakes in businesses to repay its debts. During the nine months ended Sep 29, 2013, the company incurred $1.2 million in capital expenditures for property and equipment.
Moreover, the funds may be employed for acquiring or licensing intellectual property or technologies for QuickLogic’s products.
If this public offering is approved, the company’s liquidity position will improve. Quarterly losses and negative cash flow from operating activities have weakened its financial position. As on Sep 30, 2013, the company reported cash and cash equivalents worth $14.9 million.
QuickLogic currently carries a Zacks Rank #3 (Hold). Better-placed stocks within the semiconductor sector worth considering are Mindspeed Technologies, Inc. (MSPD), Avago Technologies Ltd. (AVGO) and Cavium, Inc. (CAVM). All these stocks carry a Zacks Rank #2 (Buy).
1 Year Mindspeed Technologies, Inc. (MM) Chart |
1 Month Mindspeed Technologies, Inc. (MM) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
