Allegro Microsystems Selling Shareholder OEP SKNA To Offload $233.5M Shares

November 1, 2021 10:43 AM | 1 min read

Allegro Microsystems Inc's ALGM selling shareholder One Equity Partners SKNA proposed to sell 7 million shares in a secondary equity offering.
The estimated gross proceeds are $233.52 based on Allegro's October 29 closing price of $33.36. Allegro will not receive any proceeds from the offering.
The underwriter has a 30-day option to purchase additional shares up to 1.05 million.
Barclays is the sole underwriter for the proposed offering.'
Allegro is a global designer, developer, fabless manufacturer, and marketer of sensor ICs and application-specific analog power ICs enabling the important emerging technologies in the automotive and industrial markets.
Price Action: ALGM shares traded lower by 1.44% at $32.88 in the premarket session on the last check Monday.

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