CEVA (CEVA) said Monday that it launched an underwritten public offering of 3 million common shares.

The company also agreed to grant the underwriters a 30-day option to buy up to an additional 450,000 common shares.

Ceva said it plans to use the net proceeds to fund potential acquisitions or investments in complementary technologies and businesses, as well as for working capital, capital expenditures, share repurchases and other general corporate purposes.