Vitesse Prices Underwritten Public Offering of Common Stock

Vitesse Prices Underwritten Public Offering of Common Stock 
CAMARILLO, CA -- (Marketwired) -- 06/19/13 --   Vitesse Semiconductor
Corporation (NASDAQ: VTSS) today announced the pricing of an
underwritten public offering of 16,300,000 shares of its common stock
at a price to the public of $2.15 per share. The Company has also
granted to the underwriters a 30-day option to purchase, at the same
price per share as the underwriters paid for the initial shares, an
additional 2,420,000 shares to cover over-allotments in connection
with the offering. After deducting the underwriting discount and
estimated offering expenses payable by the Company, the Company
expects to receive net proceeds of approximately $32.6 million,
assuming no exercise of the over-allotment option.  
The offering is expected to close on or about June 25, 2013, subject
to customary closing conditions. Needham & Company, LLC is acting as
the sole book-running manager of the offering. Craig-Hallum Capital
Group LLC and Imperial Capital, LLC are acting as co-managers.  
Vitesse intends to use the net proceeds from the offering for working
capital and general corporate purposes. A portion of the net proceeds
also may be used to repay or restructure indebtedness. The shares
described above are being offered by Vitesse pursuant to a
registration statement previously filed with and subsequently
declared effective by the Securities and Exchange Commission.  
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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. Copies of the prospectus
supplement and accompanying base prospectus relating to this offering
may be obtained, when available, from Needham & Company, LLC, 445
Park Avenue, New York, NY 10022, 800.903.3268, or by e-mail to
prospectus@needhamco.com.  
About Vitesse
 Vitesse designs a diverse portfolio of
high-performance semiconductor solutions for Carrier and Enterprise
networks worldwide. Vitesse products enable the fastest-growing
network infrastructure markets including Mobile Ac
cess/IP Edge, Cloud
Computing and SMB/SME Enterprise Networking.  
Vitesse is a registered trademark of Vitesse Semiconductor
Corporation in the United States and other jurisdictions. All other
trademarks or registered trademarks mentioned herein are the property
of their respective holders. 
VTSS-F 
Safe Harbor 
 This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding the expected closing of the public
offering and the intended use of proceeds from the offering. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including the
satisfaction of the conditions to closing of the offering, risks
associated with the cash requirements of our business and other risks
detailed from time to time in our filings with the Securities and
Exchange Commission, represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements. 
Company Contact:
Marty McDermut
Vitesse Semiconductor
+1.805.388.3700
invest@vitesse.com  
Agency Contact:
Cathy Mattison
LHA
+1.415.433.3777
VTSS@lhai.com 
 
 
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