Allegro MicroSystems (ALGM) Prices 25M Share Offering at $24/sh

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Go back to Allegro MicroSystems (ALGM) Prices 25M Share Offering at $24/sh

Allegro MicroSystems Announces Pricing of Primary Offering

July 24, 2024 8:00 PM EDT

MANCHESTER, N.H., July 24, 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 pricing of a primary offering of 25,000,000 shares of common stock at a public offering price of $24.00 per share, resulting in gross proceeds of $600,000,000 to Allegro (or $579,000,000 to Allegro after giving effect to the underwriters discount of $0.84 per share). In addition, Allegro has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock at the public offering price, less underwriting... More