Inphi IPO raises $81.6 million

LONDON – Inphi Corp. priced its initial public offering of 6,800,000 shares of common stock at a price to the public of $12.00 per share last week. The company granted the underwriters a 30-day option to purchase up to an additional 1,020,000 shares to cover over-allotments.

The IPO raised $81.6 million and valued the company at about $300 million of which approximately $73.9 million was expected to be retained by Inphi (Santa Clara, Calif.) after underwriting discounts and commissions and offering expenses.

Inphi is a fabless provider of high-speed analog semiconductor solutions for the communications, networking and computing applications.

The stock is now being traded on the New York Stock Exchange under the symbol IPHI and was at above $15 on Monday (Nov. 15).

Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc. and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Stifel Nicolaus Weisel and Needham & Company, LLC are acting as co-managers.

Inphi said it would use the money raised for general corporate purposes, including working capital and capital expenditures.


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