Vitesse Sets Stock Sale
CAMARILLO, Calif. -- Vitesse Semiconductor Corporation (NASDAQ: VTSS) today announced that it is offering to sell shares of its common stock in an underwritten public offering. Needham & Company, LLC is acting as the sole bookrunning manager of the offering. Craig-Hallum Capital Group LLC is acting as co-manager. The offering is expected to price on or about Friday, December 7, 2012. Certain officers and directors of Vitesse Semiconductor Corporation are expected to participate in the offering.
Vitesse intends to use the net proceeds from the offering for working capital and general corporate purposes. A portion of the net proceeds also may be used to repay or restructure indebtedness.
The shares described above are being offered by Vitesse pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.
Vitesse Semiconductor Corp. (Nasdaq: VTSS)