Avago Technologies closes overallotment option on secondary offering; 3.75 million shares sold
By APFriday, February 26, 2010
Avago closes overallotment option on offering
NEW YORK — Chip maker Avago Technologies Ltd. on Friday said the overallotment option on its recent secondary offering closed Friday.
The offering’s underwriters exercised their options to purchase 3.75 million shares from selling shareholders at $17.41 per share.
The option was exercised in full on Tuesday. It followed a secondary offering of 25 million shares.
No money from the sales went to Avago other than the proceeds from shareholders exercising options on stock that they then sold in connection with the offering.
The joint book-running managers of the offering were Deutsche Bank Securities, Barclays Capital, Morgan Stanley and Citi.
The co-managers of the offering were Credit Suisse, Goldman Sachs & Co., J.P.Morgan, UBS Investment Bank, KKR and FTN Equity Capital Markets.
Avago shares closed Friday trading up 6 cents at $18.15.
