Virage Logic Initial Public Offering Priced at $12 Per Share
Virage Logic Corp. (NASDAQ: VIRL) today announced its initial public offering of 3,750,000 shares of common stock at a price of $12 per share. This coincides with an additional private placement to affiliates of Crosslink Capital Inc., of 403,226 shares of common stock at the offering price, less the amount of the underwriting discount. The shares commence trading today on the Nasdaq National Market under the trading symbol "VIRL". With the completion of the initial public offering and the concurrent private placement, the company has raised gross proceeds of $49.5 million.
The offering was led by Lehman Brothers, and co-managed by Robertson Stephens and SG Cowen. A copy of the final prospectus may be obtained from the offices of Lehman Brothers, 555 California Street, San Francisco, Calif., 94104.
Virage Logic provides semiconductor intellectual property (SIP) for the memory elements of silicon chips that may be used in appliances and products such as cellular and digital phones, DVD players, switches and modems. To meet customers' design goals, Virage Logic products are optimized for specific manufacturing processes and are production tested. These products include embedded memories, software systems called compilers and software development tools. Virage Logic also provides custom memory design services. The company is located at 46501 Landing Pkwy., Fremont, Calif., 94538. Telephone: (877) 360-6690 (toll free) or (510) 360-8000. Fax: (510) 360-8099. For more information, please visit www.viragelogic.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
For More Information on Virage Logic Corp.:
Company Contact:
Nanette Sisk
Virage Logic Corp
(510)360-8062
E-mail: nanette@viragelogic.com
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