Credo announces pricing of public offering
05 Diciembre 2023 - 11:30PM
Credo Technology Group Holding Ltd (Nasdaq: CRDO) (“Credo”) today
announced the pricing of an underwritten public offering of
10,000,000 of its ordinary shares at a price to the public of
$17.50 per share. An aggregate of 8,940,000 of the shares are being
offered by Credo and 1,060,000 shares are being offered by selling
shareholders. The gross proceeds from the offering to Credo, before
deducting underwriting discounts and commissions and other offering
expenses payable by Credo, are expected to be $156.5 million. The
offering is scheduled to close on December 8, 2023, subject to the
satisfaction of customary closing conditions. Credo’s ordinary
shares are listed on the Nasdaq Global Select Market under the
ticker symbol “CRDO”.
The underwriters for the offering also have a 30-day option to
purchase up to an additional 1,500,000 ordinary shares from Credo
at the price to the public, less underwriting discounts and
commissions.
Goldman Sachs & Co. LLC is acting as lead book-running
manager for the offering. Barclays, Needham & Company, Stifel
and Mizuho are acting as book-running managers. Craig-Hallum and
Roth Capital Partners are acting as co-managers for the
offering.
The shares are being offered pursuant to an automatically
effective shelf registration statement on Form S-3 filed with the
Securities and Exchange Commission on December 5, 2023. The
offering is being made only by means of a prospectus supplement and
the accompanying prospectus that forms a part of the registration
statement. Before you invest, you should read the prospectus in
that registration statement and the documents incorporated by
reference in that registration statement, as well as the prospectus
supplement related to this offering and the documents incorporated
by reference therein. Copies of the final prospectus supplement and
accompanying prospectus, when available, may be obtained on the
SEC's website, www.sec.gov, or from Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, New
York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or
by emailing prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification of these securities under the
securities laws of any such state or jurisdiction.
About CredoCredo’s mission is to deliver
high-speed solutions to break bandwidth barriers on every wired
connection in the data infrastructure market. Credo is an innovator
in providing secure, high-speed connectivity solutions that deliver
improved power efficiency as data rates and corresponding bandwidth
requirements increase exponentially throughout the data
infrastructure market.
Caution Regarding Forward-Looking
Statements
This press release contains forward-looking statements regarding
Credo’s current expectations. These forward-looking statements
include, without limitation, references to Credo’s expectations
regarding the completion, timing and size of Credo’s public
offering. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Factors that could cause actual
results to differ include, but are not limited to, risks and
uncertainties related to completion of the public offering and the
satisfaction of customary closing conditions related to the public
offering. These and other risks and uncertainties are described
more fully in the sections captioned “Risk Factors” in, and other
sections of, Credo’s Annual Report on Form 10-K for the fiscal year
ended April 29, 2023 and Credo’s Quarterly Report on Form 10-Q for
the fiscal quarter ended October 28, 2023, in the preliminary
prospectus supplement relating to the offering and in any
subsequent filings with the Securities and Exchange Commission.
Forward-looking statements contained in this announcement are made
as of this date, and Credo undertakes no duty to update such
information except as required under applicable law.
Investor Contact:Dan
O’Neildan.oneil@credosemi.com
Media Contact:Diane
Vanassediane.vanasse@credosemi.com
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