Thursday, August 9, 2012

Peregrine Semiconductor IPO

As reported by Dan Primack at FORTUNE:

Peregrine Semiconductor Corp., a San Diego-based provider of RF CMOS and mixed-signal communications ICs, raised $77 million in its IPO. The company priced 5.5 million shares at $14 per share (low end of $14-$16 range), for an initial market cap of approximately $353 million. It will trade on the NYSE, while Deutsche Bank Securities and J.P. Morgan served as co-lead underwriters. Peregrine reports a $3 million net loss on around $80 million in revenue for the first six months of 2012. It had raised over $120 million in VC funding since 1990. Current shareholders include Morgenthaler Ventures (14.07% pre-IPO stake), Ridgewood Partners (10.32%), Advanced Equities (10.87%), Palisades Ventures (6.18%) and Technology Venture Partners (6.03%). The U.S. SBA also held a 10.61% pre-IPO stake, as receiver for Wasserstein Adelson Ventures. www.peregrine-semi.com