Ambarella, Inc. raised $41.4 million in its initial public offering at $6.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 900,000 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 Ambarella, Inc. for general corporate purposes including
working capital and capital expenditures.
Ambarella, Inc. (NASDAQ: AMBA), is a leading developer of low-power, high-definition (HD) video compression and image processing solutions. The company’s products are used in a variety of HD cameras including security IP-cameras, wearable sports cameras, digital still cameras, and automotive video camera recorders. Ambarella technology is also used in television broadcasting with TV programs being transmitted worldwide using Ambarella compression chips. Prior to going public in October, 2012, Ambarella received the Global Semiconductor Alliance (GSA) 2010, 2011, and 2012 awards for “Most Respected Private Semiconductor Company.”