Allegro MicroSystems announced the launch of a primary offering of 25M shares of common stock. Proceeds from the offering, together with cash on hand or additional borrowings under Allegro’s term loan facility or revolving credit facility, will be used to repurchase shares from Allegro’s majority shareholder, Sanken Electric Co., Ltd. at a price per share equal to the price per share at which the underwriters will purchase shares of the common stock in the equity offering from Allegro. Barclays, Morgan Stanley and UBS Investment Bank are acting as joint lead book-running managers for the offering.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGM:
- Allegro MicroSystems Launches Incremental Term Loan
- Allegro MicroSystems to Announce First Quarter Fiscal 2025 Financial Results
- Allegro MicroSystems announces launch of newest high-power current sensor
- Allegro MicroSystems Redefines Magnetic Current Sensing with Compact, Integrated Solutions for Industrial, Automotive and Clean Energy Applications
- Wall Street’s Best Analyst Bets on These 2 Chip Stocks — Here’s Why You Might Want to Follow His Lead