GigOptix, Inc. (NYSE MKT:GIG) (“GigOptix”), a leading fabless supplier of semiconductor and optical components that enable high speed information streaming, announced today the final results of its modified Dutch auction tender offer, which expired at 11:59 p.m., New York City time, on Tuesday, May 15, 2012.
A total of 1,693,614 shares of GigOptix’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share.
In accordance with the terms and conditions of the tender offer, GigOptix acquired approximately 701,754 shares of its common stock at a price of $2.85 per share, for an aggregate cost of approximately $2.0 million, excluding fees and expenses relating to the tender offer. These shares represent approximately 3.25% percent of the shares of common stock outstanding as of March 27, 2012, the last trading day before commencement of the tender offer.
Due to the oversubscription of the tender offer, GigOptix accepted for purchase approximately 41% of the shares properly tendered and not properly withdrawn at or below the purchase price of $2.85 per share by each tendering stockholder (other than “odd lot” holders whose shares were purchased on a priority basis).The depositary will promptly issue payment for the shares validly tendered and accepted for purchase in accordance with the terms and conditions of the tender offer. Shares tendered and not accepted for purchase will be returned promptly to stockholders by the depositary. Stockholders who have questions may call the information agent, Innisfree M&A Incorporated, toll-free at (888) 750-5834. Banks and brokers may call collect at (212) 750-5833. About GigOptix GigOptix is a leading fabless supplier of semiconductor and optical components that enable high-speed end-to-end information streaming over the network and address emerging high-growth opportunities in the communications, industrial, defense and avionics industries. The Company offers a unique broad portfolio of Drivers, TIAs and TFPS TM optical modulators for 40G and 100G fiber-optic telecommunications and data-communications networks, and high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz and drivers. GigOptix also offers a wide range of ASIC solutions through its ChipX product line. To learn more about GigOptix, visit http://www.gigoptix.com. Tender Offer Statement This press release is for informational purposes only and is neither an offer to buy nor the solicitation of an offer to sell, any shares of GigOptix common stock.
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