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BUZZ-Chip firm Ambiq Micro edges lower after upsized stock offering

Reuters
Jan 23
BUZZ-Chip firm <a href="https://laohu8.com/S/AMBQ">Ambiq Micro</a> edges lower after upsized stock offering

** Ambiq Micro AMBQ.N shares down 0.6% at $32.50 before the bell after chip designer's follow-on priced

** Austin, Texas-based co late Thurs announced ~2.7 mln shares, a 5.2% discount to last sale

** Offering, which was boosted from 2.2 mln shares, includes 42,949 shares offloaded by certain holders

** AMBQ expects to use net proceeds it receives primarily for general purposes, including sales and marketing activities, product development, and capex, per the prospectus

** BofA and UBS joint lead bookrunners

** AMBQ went public in Jul IPO priced at $24

** Stock has traded as high as $51.76 (Aug 1) and as low as $22.12 (Nov 21)

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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