GigOptix prices public offering

GigOptix, Inc. (NYSE MKT:GIG) said it has priced its underwritten public offering of an aggregate of 9,218,000 newly issued shares of common stock at a price of USD1.70 per share.

The company expects to receive gross proceeds of USD15.67 million, before deducting underwriting discounts and other estimated offering expenses.

The underwriters have also been granted a 30-day option to purchase up to 1,425,000 shares of common stock to cover over-allotments, if any. The net proceeds to the company from the offering of its shares are expected to be approximately USD14.73 million after deduction of underwriting discounts and assuming no exercise of the underwriters´ over-allotment option.

The company said it expects to use the net proceeds from the offering of the shares which it is selling, for potential acquisitions for strategic growth, including the acquisition of critical technologies and scalable businesses. The focus will be on multiple attractive global targets, including entities that the company has been tracking for the last couple of years.

Cowen and company, LLC and Roth Capital Partners are acting as joint book-running managers for the offering. Craig-Hallum Capital Group LLC is acting as co-manager for the offering.

GigOptix is a leading fabless supplier of high-speed semiconductor components that enable end-to-end information streaming over optical and wireless networks.