Thursday, August 21, 2014 Last update: 9:03 AM
FreshNews.com - All Company Technology News Since 1996

Vitesse Closes $28.7 Million Public Offering of Its Common Stock

Companies mentioned in this article: Vitesse Semiconductor Corporation

CAMARILLO, Calif. -- (BUSINESS WIRE) -- Vitesse Semiconductor Corporation (NASDAQ: VTSS) today announced the closing of an underwritten public offering for 8,582,076 shares of its common stock, which includes the exercise in full by the underwriters of their over-allotment option, at a per share price to the public of $3.35. The Company will receive net proceeds of approximately $26.7 million after deducting the underwriting discount and estimated offering expenses.

Needham & Company, LLC acted as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC, The Benchmark Company, LLC and Northland Securities, Inc. acted as co-managers. Counsel for Vitesse was Stubbs Alderton & Markiles, LLP.

About Vitesse

Vitesse (Nasdaq: VTSS) designs a diverse portfolio of high-performance semiconductor solutions for Carrier, Enterprise and Internet of Things (IoT) networks worldwide. Vitesse products enable the fastest-growing network infrastructure markets including Mobile Access/IP Edge, Cloud Computing, SMB/SME Enterprise and IoT Networking.

Vitesse is a registered trademark of Vitesse Semiconductor Corporation in the United States and other jurisdictions. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.

VTSS-F


Copyright © Business Wire 2014
Contact:

Company Contact:
Vitesse Semiconductor
Marty McDermut
+1.805.388.3700
invest@vitesse.com
or
Agency Contact:
LHA
Kirsten Chapman
+1.415.433.3777
VTSS@lhai.com