Monday, March 28, 2011

Inphi Launches Secondary Offering

Inphi Corporation, the developer of high speed analog communications semiconductors, said Monday that it has launched a public offering of 3.9 million shares of its common stock. The new offering comes just shy of six months after the firm's IPO. The firm said that 3.8 million of those shares are owned by certain stockholders of the company, with 0.5M going to underwriters, and 0.5M to over-allotments. Inphi--which has major operations in Westlake Village, but is based in Santa Clara--said it will not be receiving any of the proceeds from the sale of the shares. Inphi Corp. closed at $20.54 on Monday at close of market, which is well above the $12.00 the firm IPO'd at in November.

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