Cree Research Inc, working on development of blue ligh-emitting diodes in Durham, North Carolina, raised $17.7m net in a private placing, issuing 800,000 shares to investors in the offering and five-year warrants for 200,000 shares with an exercise price of $27.23 a share. Warrants for an further 100,000 shares were issued to placing agents. Proceeds […]
Cree Research Inc, working on development of blue ligh-emitting diodes in Durham, North Carolina, raised $17.7m net in a private placing, issuing 800,000 shares to investors in the offering and five-year warrants for 200,000 shares with an exercise price of $27.23 a share. Warrants for an further 100,000 shares were issued to placing agents. Proceeds will be used to buy manufacturing equipment, expand facilities, and for working capital.
Silicon Valley Group Inc, San Jose chip fabrication equipment maker, got its offer of 3.5m shares, all new, away at $32.75 per share and says it will use the net proceeds, estimated to be about $109.7m, to buy capital equipment, expand manufacturing facilities and finance its working capital requirements and research and development activities, primarily in its lithography business, to meet actual and anticipated demand for its Micrascan products.The offering was being made through Morgan Stanley & Co Inc, Prudential Securities Inc and Cowen & Co. Silicon Storage Technology Inc, Sunnyvale, California chip designer, has filed with the US Securities & Exchange Commission to go public with an initial offering of 5.0m shares, 740,000 to be sold by Quantum Corp. Proceeds of at least $30.9m will be used to secure additional foundry capacity, for capital expenditures and working capital. The underwriters for the issue are Hambrecht & Quist and Donaldson, Lufkin & Jenrette Securities Corp.
Smart Modular Technologies Inc, Palo Alto maker of memory modules and PC Card products, has filed with the US Securities & Exchange Commission to go public with an initial offering of 3.5m shares, all new; it did not give a target price but says it wants the cash to repay debt, for capital expenditures and for working capital. The underwriters for the issue are Donaldson, Lufkin & Jenrette Securities Corp, Cowen & Co and Oppenheimer & Co Inc.
Verity Software Inc, designing software development tools in Mountain View, California got its initial public offering of 3.3m shares, 2.5m of them new, away at $12 a share where it had sought $8 to $10. Underwriters were Hambrecht & Quist LLC, Alex Brown & Sons Inc and Wess els, Arnold & Henderson LLC.
Discreet Logic Inc, developing image processing systems in Montreal, Quebec, has filed with the US Securities & Exchange Commission to offer 1.6m new shares, but gave no target price; it wants the cash for working capital and potential acquisitions. Underwriters for the issue are Robertson, Stephens & Co, Piper Jaffray Inc and Volpe, Welty & Co.
