Underwriters Exercise Options Following Peregrine IPOTuesday, August 14, 2012
Peregrine Semiconductor Corp., which went public last week, said its underwriters on the public offering exercised all their options to purchase an additional 825,000 shares of common stock from the company at the offering price of $14.
The additions bring the total shares sold in the offering to 6.3 million. These included only 159,220 exercised by existing shareholders.
The aggregate net proceeds to Peregrine after deducting underwriting discounts and commissions and estimated offering expenses were $79.2 million, the company said.
Shares of Peregrine, traded on Nasdaq under PSMI, closed at $15.42 on Aug. 13, up 10 percent from the initial price. That gave the company a market capitalization of $44 million.