This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MaxLinear Repurchases 1.65M Shares From Venture Capital Investors

MaxLinear, Inc. (NYSE: MXL), a leading provider of integrated radio frequency (RF) and mixed-signal integrated circuits for broadband communication applications, today announced that it has executed an agreement to repurchase 1,152,338 shares of its Class A common stock from Mission Ventures and 500,000 shares of its Class B common stock from various funds affiliated with US Venture Partners. Following the repurchase, Mission Ventures will no longer hold any Class A or Class B Common Stock of MaxLinear. USVP will continue to hold an aggregate of 2,396,571 shares of MaxLinear’s Class B common stock and no shares of Class A common stock.

The per share purchase price for all of the shares being repurchased was $5.59, the closing price of MaxLinear’s Class A common stock in trading on the New York Stock Exchange on August 21, 2012, the date of the agreement. The aggregate repurchase price was $9,236,569. The repurchase is subject to standard closing and settlement conditions.

Under the terms of the stock repurchase agreement, USVP has agreed for a period of six months to notify MaxLinear prior to making any sales or other transfers of MaxLinear’s capital stock or any distributions of MaxLinear capital stock to USVP’s limited partners. For a 24-hour period, MaxLinear will then have the opportunity, but not the obligation, to repurchase the shares proposed to be sold, distributed, or transferred at a per share repurchase price equal to the closing price of MaxLinear’s Class A common stock in trading on the New York Stock Exchange on the day after USVP notifies MaxLinear of its intentions with respect to a sale, distribution, or transfer of the shares.

“Given current trading prices and the large blocks of stock held by our largest remaining pre-IPO investors, our board of directors believed that these privately negotiated repurchases were in the best interests of MaxLinear and its stockholders,” said Kishore Seendripu, Ph.D., Chairman and Chief Executive Officer of MaxLinear, Inc. Dr. Seendripu added: “The decision with respect to these private repurchases was unique to the present circumstances of MaxLinear’s business and the substantial blocks held by Mission and USVP. We are not presently contemplating any open market repurchases or similar repurchase programs.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs