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Wednesday, Dec 6, 2023

Vitesse Offering 10 Million Shares

Vitesse Semiconductor Corp. looks to raise $16.1 million from a secondary public offering of 10 million shares of its common stock. The Camarillo-based manufacturer and distributor will use the money for working capital and general corporate purposes. The shares are priced at $1.75 and the offering will close on Dec. 12. Needham & Company LLC is managing the offering and Capital Group LLC is the co-manager. Certain officers and directors of Vitesse Semiconductor Corporation are expected to participate in the offering, the company said in a prepared release. Shares in Vitesse closed down at $1.82, or 13 percent, on the Nasdaq exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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