Cherokee International LLC (Tustin, CA), a manufacturer of switch-mode power supplies, announced that its initial public offering of 6,600,000 shares of common stock was priced at $14.50 per share. The offering is expected to close on February 25, 2004, subject to customary closing conditions.
All of the 6,600,000 shares were offered by Cherokee International. The selling stockholders in the offering have granted the underwriters an option to purchase up to an additional 990,000 shares from the selling stockholders to cover over-allotments, if any. Cherokee will not receive any of the proceeds from the shares of common stock sold by the selling stockholders.
