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Semtech Prices Upsized Public Offering Of 9.13 Mln Shares At $63/shr

December 06, 2024 — 12:10 am EST

Written by RTTNews.com for RTTNews->

(RTTNews) - Semtech Corporation (SMTC), a semiconductor, IoT systems and cloud connectivity service provider, said it priced public offering of 9.13 share million shares at $63 per share.

Proceeds from the offering, which was upsized from the previous $400 million of shares, are expected to be about $575 million.

Semtech plans to use proceeds from the offering for repayment of debt.

Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering, which is scheduled to close on December 9.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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