Allegro MicroSystems, Inc. (ALGM) Launches 25M Share Offering

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Go back to Allegro MicroSystems, Inc. (ALGM) Launches 25M Share Offering

Allegro MicroSystems Launches Primary Offering of Common Stock

July 23, 2024 4:05 PM EDT

MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Allegro) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of a primary offering of 25,000,000 shares of common stock. In addition, Allegro expects to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock. Proceeds from the offering, together with cash on hand or additional borrowings under Allegros term loan facility or revolving credit facility, will be used to repurchase shares from Allegros majority shareholder, Sanken... More