California Micro Devices Raises $4.4 Million Through Private Placement

11/27/2002 - California Micro Devices disclosed the sale of approximately 1.3 million common shares at $3.40 per share in a private placement primarily to institutional investors. Investors also received approximately 325,000 three-year warrants to purchase common stock with an exercise price of $4.36. CAMD has binding commitments for an additional approximately $700,000 of investment that it expects to receive by the end of this week. Several CAMD directors participated in the transaction. According to Robert V. Dickinson, president and CEO of California Micro Devices, the net proceeds from the private placement will be used for working capital and to reduce short-term debt. Needham and Company Inc. and Adams, Harkness & Hill Inc. served as placement agents for the offering.

About California Micro Devices
California Micro Devices Corporation is a leading supplier of application-specific analog semiconductor products for the mobile, computing, and high-brightness LED lighting markets. Key products include application-specific integrated passive (ASIPTM) devices and power management ICs as well as silicon submounts for high brightness LEDs.

Previous Page | News by Category | News Search

If you found this page useful, bookmark and share it on:

 
Embedded Star Newsletter
Don't have time to visit Embedded Star everyday? Then sign up for our free newsletter. We'll send you an email when we have something to share with you. Your email address will be kept confidential and we will not share, sell, or rent it to anyone. You can unsubscribe at any time by clicking a link in the email.

Enter your email address to sign up for our free newsletter:   

If you are familiar with RSS feeds, you can also sign up for our free blog feed. Our RSS feed is updated in real-time while our newsletter is updated daily.