All shares are being sold by the Company. SemiLEDs has granted the underwriters a 30-day option to purchase up to an additional 787,500 shares at the initial public offering price to cover overallotments, if any. The common stock is expected to begin trading on December 9, 2010 on the NASDAQ Global Select Market under the symbol “LEDS.”
The net proceeds to the Company from the sale of its common stock are approximately US$79.0 million. If the overallotment option is exercised in full, the total net proceeds to the Company would be approximately US$91.4 million.
The Company intends to use these net proceeds for expanding production capacity in Taiwan, research and development expenses related to LED chip production based on 6” wafers, and general corporate purposes, including working capital and capital expenditures. The Company may also use a portion of the net proceeds to acquire or invest in complementary technologies, solutions or businesses or to obtain rights to such complementary technologies, solutions or businesses.
BofA Merrill Lynch, Barclays Capital and Jefferies are acting as joint book-running managers for the offering. Canaccord Genuity and Caris & Company are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the 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.
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