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Reported Earlier, Allegro MicroSystems Prices $600M Primary Offering Of 25M Common Shares At $24/Share

Author: Benzinga Newsdesk | July 25, 2024 03:27am

Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. ("Sanken") at a price per share equal to the price per share at which the underwriters will purchase shares of our common stock in the equity offering from Allegro.

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