RDA Microelectronics (NASDAQ: RDA) is a fabless semiconductor company that designs, develops and markets wireless systems-on-chip and radio-frequency semiconductors for cellular, connectivity and broadcast applications. The Company's product portfolio currently includes baseband, radio-frequency front end modules, power amplifiers, transceivers, Bluetooth systems-on-chip, Wi-Fi, Bluetooth and FM combo chips, FM radio receivers, set-top box tuners, analog mobile television receivers, CMMB mobile television receivers, walkie-talkie transceivers and LNB satellite downconverters.
RDA Microelectronics raised $77.2 million in its follow-on offering at $9.25 per share. Needham acted as a co-manager on the transaction. The net proceeds from the sale of the shares from the offering will be used by RDA Microelectronics to pay the expenses of the offering, which they estimate will be $1.1 million and which they are contractually obligated to pay under our second amended and restated shareholders agreement dated as of February 25, 2010. The company will not receive any of the proceeds from the sale of ADSs by the selling shareholders, including any ADSs subject to the underwriters' over-allotment option, although they will bear the costs, other than underwriting discounts and commissions, associated with those sales.