Peregrine Semiconductor raised $88.7 million in its initial public offering at $14.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 825,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Peregrine Semiconductor for general corporate purposes including working capital, product development and operating expenses.
Peregrine Semiconductor (NASDAQ: PSMI) is a fabless provider of high-performance Radio Frequency Integrated Circuits, or RFICs. Our solutions leverage our proprietary UltraCMOS ® technology , which enables the design, manufacture, and integration of multiple RF, mixed-signal, and digital functions on a single chip.