M/A-COM Technology Solutions raised $114.0 million in its initial public offering at $19.00 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares will be used by M/A-COM Technology Solutions to pay to the holders of our Class B
convertible preferred stock a preference payment. We plan to use any remaining net proceeds from this offering for general corporate purposes, including working capital. The Company may also use a portion of these proceeds to acquire or make investments in complementary technologies, products, solutions or businesses.
M/A-COM Technology Solutions (NASDAQ: MTSI) is a leading supplier of high performance analog semiconductor solutions for use in radio frequency (RF), microwave, and millimeter wave applications. Recognized for its broad portfolio of products, MACOM serves diverse markets, including CATV, wireless infrastructure, optical communications, aerospace and defense, automotive, industrial, medical, and mobile devices. MACOM builds on more than 60 years of experience designing and manufacturing innovative product solutions for customers worldwide.