LTX-Credence publicly offering 14 million shares of common stock.

LTX-Credence offering 14 million shares

MILPITAS, Calif. — LTX-Credence Corp., which makes chip testing equipment for the semiconductor industry, said Monday it is publicly offering 14 million shares of common stock.

The company said it granted underwriters a 30-day option to buy up to 2.1 million additional shares to cover over-allotments.

The company did not price the offering.

Barclays Capital is the sole book-runner for the offering.

The company said it will use net proceeds for working capital and other general corporate purposes.

Shares of LTX-Credence fell 12 cents, or 3.9 percent, to $2.96 in after-hours trading after falling 3 cents to close at $3.08 during the regular trading session.