SAN FRANCISCO—Switch chip vendor Mellanox Technologies Ltd. Monday (Sept. 19) announced it intends to sell more than 3.4 million ordinary shares in an initial public offering, subject to market conditions and other considerations.
Mellanox (Sunnyvale, Calif.) said it would offer 3 million ordinary shares and authorize its underwriters the ability to buy up to 450,000 ordinary shares to cover overallotments, if any.
Mellanox said it would use use the net proceeds from the IPO for general corporate purposes, including working capital and potential strategic investments.
In April, Mellanox began sampling its SwitchX chip with virtual protocol interconnect, described as the first switch chip that can operate as an an InfiniBand switch or Ethernet switch.
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