DLA Piper advises Needham & Co. as underwriter in Vicor Corporation's US$115 million common stock offering

Rhea-AI Summary

DLA Piper has represented Needham & Company, LLC as the underwriter in Vicor Corporation's public offering of common stock, raising US$115 million. Vicor, known for high-performance power components, plans to utilize the proceeds for expanding manufacturing facilities and general corporate purposes. Needham acted as the sole book-running manager for this offering. The DLA Piper team included John J. Gilluly III and other key members, highlighting the firm's expertise in capital markets transactions within the technology sector.

Positive

• Successfully raised US$115 million through public offering.
• Funds will support expansion of manufacturing facilities.

Negative

• None.

NEW YORK, June 17, 2020 /PRNewswire/ -- DLA Piper represented Needham & Company, LLC as underwriter in the US$115 million public offering of common stock of Vicor Corporation (NASDAQ: VICR). Vicor is a leading provider of high-performance power components and systems.

Vicor intends to use the proceeds from the offering to expand its manufacturing facilities and corporate operations and for other general corporate purposes. Needham & Company, LLC acted as the sole book-running manager for the offering.

"We appreciated the opportunity to leverage our extensive technology sector capabilities with our robust experience advising underwriters in sophisticated capital markets transactions to help Needham deliver this transaction for Vicor," said John J. Gilluly III, global co-chair of DLA Piper's Corporate practice, who led the firm's deal team.

In addition to Gilluly (Austin), the DLA Piper team representing Needham & Company included Drew Valentine (Austin/New York), Chen Zhang and Rebekah Rodriguez (both of Austin).

DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.

DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.

About DLA Piper

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper

FAQ

What was the purpose of Vicor Corporation's US$115 million stock offering?

Vicor Corporation intends to use the proceeds from the US$115 million offering to expand its manufacturing facilities and for general corporate purposes.

Who acted as the underwriter for Vicor's public offering?

Needham & Company, LLC acted as the underwriter for Vicor Corporation's public stock offering.

What date was Vicor Corporation's public stock offering announced?

The public stock offering by Vicor Corporation was announced on June 17, 2020.

How much capital did Vicor Corporation raise in its stock offering?

Vicor Corporation raised US$115 million in its public stock offering.