News Column

VITESSE SEMICONDUCTOR CORP FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits

June 17, 2014

Item 8.01. Other Events.

On June 12, 2014, we entered into an underwriting agreement (the "Underwriting Agreement") with the several Underwriters named in the Underwriting Agreement (the "Underwriters") for which Needham & Company, LLC is acting as representative, relating to an underwritten public offering of 7,462,675 shares of our common stock, $0.01 par value, at a per share price to the public of $3.35.

Pursuant to the Underwriting Agreement, we granted the Underwriters a 30-day option to purchase up to an additional 1,119,401 shares of common stock. The underwriters exercised their option with respect to all 1,119,401 additional shares on June 16, 2014.

The public offering closed on June 17, 2014, and we sold to the Underwriters an aggregate of 8,582,076 shares for gross proceeds of approximately $28.7 million, $26.7 million after deducting the underwriting discount and offering expenses payable by us of approximately $230,000.

The Company issued a press release on June 17, 2014 announcing the closing of the public offering. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. 99.1 Press Release dated June 17, 2014. 2


For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Edgar Glimpses

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters