Allegro MicroSystems (ALGM) IPO Opens 39% Higher

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Go back to Allegro MicroSystems (ALGM) IPO Opens 39% Higher

Allegro MicroSystems Announces Pricing of Initial Public Offering

October 29, 2020 12:38 AM EDT

Manchester, NH, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Allegro) (Nasdaq: ALGM), a global leader in sensing and power semiconductor technology, announced today the pricing of its initial public offering of 25,000,000 shares of its common stock at a price to the public of $14.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol ALGM on October 29, 2020. The gross proceeds of the offering, before deducting the underwriting discount and offering expenses, are expected to be $350.0 million. The offering is expected to close on November 2, 2020, subject to customary closing... More