Overallotment Option Exercised at Microsemi

June 29, 2000 by Jeff Shepard

Microsemi Corp. (Santa Ana, CA) announced that the underwriters of its recent 2,022,000 share common stock offering (including 22,000 shares sold by Security-holders) exercised their overallotment option to purchase an additional 303,300 shares of common stock from Microsemi at $21.00 per share, before under-writing discounts.Net proceeds to the company of its offering, including the exercise of the over-allotment option, totaled approximately $45.3 million. The company's use of the net proceeds of the offering includes repayment of all the indebtedness outstanding under its bank, which is approximately $37.0 million, and general corporate purposes, which may include capital expenditures or future acquisitions.