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Intelligent Circuit Sensor Developer ALLEGRO Set Terms for $325 Million US IPO

Esther Thin

Allegro Microsystems, Inc., an intelligent circuit sensor (ICs) developer, has filed Amendment No 2 to Form S-1 Registration Statement on October 21, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $325 million by offering 25 million shares at the price range of $12 to $14. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $2.5 billion. The company is a global designer, developer, fabless manufacturer, and marketer of sensor ICs and application-specific analog power ICs enabling the most important emerging technologies in the automotive and industrial markets.

The Manchester, New Hampshire-based company was founded in 2013 and booked $613 million in revenue for the 12 months ended June 26, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “ALGM.” Barclays, Credit Suisse, Wells Fargo Securities, Jefferies, Mizuho Securities, Needham & Co. and SMBC Nikko are underwriters of the IPO.

The company engages Latham & Watkins LLP as US Securities Counsel, and Grant Thornton LLP as Independent Auditor.

#ipo #nasdaq #allegromicrosystems #IntelligentCircuitSensor




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