Vitesse Announces Proposed Public Offering of Common Stock
CAMARILLO, Calif. -- June 11, 2014
Vitesse Semiconductor Corporation (NASDAQ: VTSS) today announced that it is
offering to sell shares of its common stock in an underwritten public
offering. Needham & Company, LLC is acting as the sole bookrunning manager of
the offering. Craig-Hallum Capital Group LLC, The Benchmark Company, LLC and
Northland Securities, Inc. are acting as co-managers. The offering is expected
to price on or about Thursday, June 12, 2014.
Vitesse intends to use the net proceeds from the offering for working capital
and general corporate purposes.
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 (“SEC”). A preliminary
prospectus supplement relating to the offering will be filed with the SEC and
will be available on the SEC’s website at http://www.sec.gov.
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
preliminary prospectus supplement and accompanying base prospectus relating to
this offering may be obtained from Needham & Company, LLC, 445 Park Avenue,
New York, NY 10022, 800.903.3268, or by email to firstname.lastname@example.org.
Vitesse (NASDAQ: VTSS) designs a diverse portfolio of high-performance
semiconductor solutions for Carrier, Enterprise and Internet of Things (IoT)
networks worldwide. Vitesse products enable the fastest-growing network
infrastructure markets including Mobile Access/IP Edge, Cloud Computing,
SMB/SME Enterprise and IoT 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.
This press release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995 regarding the proposed
public offering and the intended use of proceeds from the offering. The
offering is subject to market and other conditions and there can be no
assurance as to whether or when the offering may be completed or as to the
actual size or terms of the offering. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially, including market conditions, 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
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