Astera Labs (NASDAQ: ALAB) has announced the pricing of its initial public offering of 19,800,000 shares of its common stock at a price to the public of $36.00 per share. According to the announcement, the offering consists of 16,788,903 shares of common stock offered by Astera Labs and 3,011,097 shares of common stock to be sold by certain of Astera Labs’ existing stockholders. In addition, the underwriters will have a 30-day option to purchase up to an additional 2,970,000 shares of common stock from Astera Labs at the initial public offering price, less underwriting discounts and commissions. The gross proceeds to the company are expected to be approximately $604.4 million, with the shares expected to begin trading on the Nasdaq Global Select Market under the ticker symbol ALAB on March 20, 2024. Subject to customary conditions, the offering is expected to close on March 22, 2024.
To view the full press release, visit https://ibn.fm/yZkeC
About Astera Labs Inc.
Astera Labs is a global leader in purpose-built connectivity solutions that unlock the full potential of AI and cloud infrastructure. Its Intelligent Connectivity Platform integrates PCIe(R), CXL(R) and Ethernet semiconductor-based solutions based on a software-defined architecture that is both scalable and customizable. Inspired by trusted relationships with hyperscalers and the data center ecosystem, Astera Labs is an innovation leader delivering products that are flexible and interoperable. Discover how Astera Labs is transforming modern data-driven applications at www.AsteraLabs.com.
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