An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Silvaco, a semiconductor design and AI software provider, announced the pricing of its initial public offering of 6,000,000 shares at $19.00 per share, expecting to raise $114.0 million. The company plans to trade on Nasdaq under the ticker symbol 'SVCO' and intends to use the net proceeds for various corporate purposes.
Positive
None.
Negative
None.
Insights
Silvaco's pricing of its initial public offering (IPO) at $19.00 per share provides a definitive market entry valuation, translating to gross proceeds of $114 million before costs. The offering's size and the subsequent option for underwriters to purchase additional shares indicate healthy demand and confidence in the company's market prospects. Investors should consider Silvaco's intended use of the funds for corporate needs, R&D and debt repayment, balancing potential growth against the dilutive effect on existing shares. Furthermore, the entry on the Nasdaq Global Select Market reflects a strategic move to increase visibility and liquidity. It remains critical to monitor post-IPO performance to gauge long-term return potential and company trajectory, especially in the volatile semiconductor industry.
As Silvaco operates in the high-stakes semiconductor sector, offering TCAD, EDA and SIP solutions, the success of its IPO could be indicative of the market's appetite for tech companies with a focus on AI and semiconductor design. Given the cyclical nature of the tech sector, timing the IPO during a period of growth or stability is pivotal. The firm's commitment to R&D and innovation, as mentioned in the use of proceeds, could position it favorably against competitors. The semiconductor industry's growth trajectory, fueled by AI and IoT expansion, may also play a important role in investor sentiment. Evaluating the company's strategic partnerships and competitive positioning will be key for investors.
SANTA CLARA, Calif.--(BUSINESS WIRE)--
Silvaco Group, Inc. (“Silvaco”), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and AI through software and innovation, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $19.00 per share. All of the shares of common stock are being offered by Silvaco. The aggregate gross proceeds to Silvaco from the offering are expected to be $114.0 million before deducting underwriting discounts and commissions and other offering expenses payable by Silvaco. Silvaco’s common stock is expected to begin trading on the Nasdaq Global Select Market on May 9, 2024 under the ticker symbol “SVCO.” The offering is expected to close on May 13, 2024, subject to the satisfaction of customary closing conditions. In addition, Silvaco has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of Silvaco’s common stock from Silvaco at the public offering price, less underwriting discounts and commissions.
Silvaco currently intends to use the net proceeds from this offering for general corporate purposes, including working capital, selling and marketing activities, research and product development, general and administrative matters, the repayment of outstanding debt, and capital expenditures. Silvaco may elect to use a portion of the net proceeds to satisfy the anticipated tax withholding and remittance obligations in connection with the settlement of certain equity compensation awards of Silvaco’s employees.
Jefferies and TD Cowen are acting as joint book-running managers for the offering. Needham & Company is acting as lead manager and Craig-Hallum Capital Group and Rosenblatt are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on May 8, 2024. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at TD.ECM_Prospectus@tdsecurities.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Silvaco
Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and AI through software and innovation. Silvaco’s solutions are used for process and device development across display, power devices, automotive, memory, high performance compute, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan.
