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Diodes Prices Secondary Offering

Diodes Prices Secondary Offering Westlake Village-based semiconductor developer Diodes Inc. has priced a secondary stock offering with the intention of raising about $63 million. The company said it plans to use the offering for working capital and “other general corporate purposes including acquisitions.” Diodes added that there were no discussions or agreements currently in effect for acquisitions. About 2.5 million shares of stock were included in the secondary offering, but 750,000 of that total is from shares being offered by the company’s largest shareholder, Lite-On Semiconductor. Diodes will not receive any of the proceeds from the sale of the Lite-On shares. UBS Investment Bank is the lead group on the offering. The other underwriters are A.G. Edwards & Sons Inc., C.E. Unterberg, Towbin LLC, Raymond James & Associates Inc. and WR Hambrecht + Co. LLC.

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