Semiconductor equipment and services provider Cohu Inc (NASDAQ: COHU) has proposed to sell 4.5 million shares in a secondary offering. The underwriters have 30 days to purchase additional shares up to 675,000.
- Based on the last closing price of $45.99, COHU can raise gross proceeds of roughly $238 million if underwriters exercise the option to purchase additional shares.
- The offering proceeds will be utilized to repay outstanding principal on its term loan facility and general corporate purposes.
- Citigroup, Goldman Sachs, and Stifel are the joint book-running managers for the proposed offering. B. Riley Securities, Craig-Hallum Capital Group, and D.A. Davidson are the co-managers for the offering.
- COHU shares have gained 173% in the last six months.
- Price action: COHU shares closed 5.85% higher at $45.99 on Monday.
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