Attached files
file | filename |
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8-K - 8-K - VITESSE SEMICONDUCTOR CORP | a14-15598_18k.htm |
Exhibit 99.1
For Immediate Release
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Company Contact: |
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Agency Contact: |
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Marty McDermut |
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Kirsten Chapman |
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Vitesse Semiconductor |
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LHA |
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+1.805.388.3700 |
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+1.415.433.3777 |
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invest@vitesse.com |
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VTSS@lhai.com |
Vitesse Closes $28.7 Million Public Offering of Its Common Stock
CAMARILLO, Calif. June 17, 2014 Vitesse Semiconductor Corporation (NASDAQ: VTSS) today announced the closing of an underwritten public offering for 8,582,076 shares of its common stock, which includes the exercise in full by the underwriters of their over-allotment option, at a per share price to the public of $3.35. The Company will receive net proceeds of approximately $26.7 million after deducting the underwriting discount and estimated offering expenses.
Needham & Company, LLC acted as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC, The Benchmark Company, LLC and Northland Securities, Inc. acted as co-managers. Counsel for Vitesse was Stubbs Alderton & Markiles, LLP.
About Vitesse
Vitesse (Nasdaq: VTSS) designs a diverse portfolio of high-performance semiconductor solutions for Carrier, Enterprise and Internet of Things (IoT) networks worldwide. Vitesse products enable the fastest-growing network infrastructure markets including Mobile Access/IP Edge, Cloud Computing, SMB/SME Enterprise and IoT Networking.
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Vitesse is a registered trademark of Vitesse Semiconductor Corporation in the United States and other jurisdictions. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.
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