▾ G11 Media Network: | ChannelCity | ImpresaCity | SecurityOpenLab | GreenCity | Italian Channel Awards | Italian Project Awards | ...
InnovationOpenLab

Astera Labs Announces Pricing of Initial Public Offering

Astera Labs, Inc. (“Astera Labs”) today announced the pricing of its initial public offering of 19,800,000 shares of its common stock at a price to the public of $36.00 per share. The offering con...

Business Wire

SANTA CLARA, Calif.: Astera Labs, Inc. (“Astera Labs”) today announced the pricing of its initial public offering of 19,800,000 shares of its common stock at a price to the public of $36.00 per share. The offering consists of 16,788,903 shares of common stock offered by Astera Labs and 3,011,097 shares of common stock to be sold by certain of Astera Labs’ existing stockholders.

In addition, the underwriters will have a 30-day option to purchase up to an additional 2,970,000 shares of common stock from Astera Labs at the initial public offering price, less underwriting discounts and commissions. The gross proceeds to Astera Labs from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Astera Labs, are expected to be approximately $604.4 million. Astera Labs will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALAB” on March 20, 2024. The offering is expected to close on March 22, 2024, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as joint book runners for the offering. Barclays, Deutsche Bank Securities, Evercore ISI and Jefferies are additionally acting as book runners, and Needham & Company, Stifel, Craig-Hallum Capital Group, Roth Capital Partners, Loop Capital Markets and Siebert Williams Shank are acting as co-managers.

The proposed offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 and J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by toll free telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, and became effective on March 19, 2024. 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 under the securities laws of any such state or jurisdiction.

About Astera Labs

Astera Labs is a global leader in purpose-built connectivity solutions that unlock the full potential of AI and cloud infrastructure. Our Intelligent Connectivity Platform integrates PCIe®, CXL®, and Ethernet semiconductor-based solutions based on a software-defined architecture that is both scalable and customizable. Inspired by trusted relationships with hyperscalers and the data center ecosystem, we are an innovation leader delivering products that are flexible and interoperable. Discover how we are transforming modern data-driven applications at www.asteralabs.com.

Fonte: Business Wire

If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter.

Related news

Last News

The Etna Valley will be a main European semiconductors hub

The EU ChipsJU program will fund the development of innovative semiconductors production lines in Catania, thanks to an international consortium led by…

Bending Spoons acquires StreamYard

The Italian tech company has entered into an agreement to buy the US based live-streaming and video-recording business

HR startup's market is on fire, ask to Factorial

Factorial secures $80M of Go-To-Market investment from General Catalyst to accelerate growth.

Awentia brings Italian Deep Tech to South America

From Imola, Awentia Agritech will take its Smart Agriculture technologies to Argentinian companies Ava Fruit, Doña Paula and Bodega A16

Most read

The Etna Valley will be a main European semiconductors hub

The EU ChipsJU program will fund the development of innovative semiconductors production lines in Catania, thanks to an international consortium led by…

Newsletter signup

Join our mailing list to get weekly updates delivered to your inbox.

Sign me up!