Intersil Holding Announces Plans to Sell Class A Common Stock
Intersil Holding Corp. (Irvine, CA) has filed with the Securities and Exchange Commission to sell 10 million shares of Class A common stock. The company plans to sell three million shares and net $148.0 million, according to the filing. It plans to use the proceeds for general corporate purposes, including research and development, sales and marketing as well as possible acquisitions.The firm said share-holders plan to sell seven million shares and the company will not receive any proceeds from this offering. The company granted underwriter Credit Suisse First Boston the option to buy 500,000 additional shares if the three million shares are over-subscribed. There will be 50.2 million shares of Class A common stock outstanding in the company after the offering.