The Technology Capital Markets team advised Astera Labs on the completion of its upsized initial public offering of its common stock at a price to the public of $36.00 per share. Astera sold 19,758,903 shares in the offering, which includes shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, and the selling stockholders sold an aggregate of 3,011,097 shares. Total gross proceeds from the offering to Astera and the selling stockholders were approximately $672.2 million and $102.4 million, respectively. The shares began trading on The Nasdaq Stock Market on March 20, 2024 under the ticker symbol “ALAB.”
Astera Labs is a global leader in purpose-built connectivity solutions that unlock the full potential of cloud and AI infrastructure. Their Intelligent Connectivity Platform integrates PCIe, CXL and Ethernet semiconductor-based solutions based on a software-defined architecture that is both scalable and customizable. Inspired by trusted partnerships with hyperscalers and the data center ecosystem, Astera is an innovation leader of products that are flexible, interoperable, and reliable.
The deal team was led by Bradley Weber, Julia White, Patty Shields, Nikki Miller and Rylee Sherouse (Capital Markets); John Hutar, Gabe Choi and Jenna Zendarski (Corporate); Lynda Galligan, Monica Patel, Andre Amorim and James Oh (Executive Compensation & Benefits); Kevin Lam, Brittany Fayette and Patrick Park (IPTS); Jackie Klosek and Ora Grinberg and Garrett Gaughan (Tax); Brynn Peltz (’40 Act Matters); and Maggie Wong (Opinions); with invaluable assistance from James Matarese, Jen Luz, Jim Hammons, Eric Graffeo, Rahat Tariq, Frances Dea and Cody Foster.
For additional details on the offering, please read the press release and coverage in MarketWatch, Reuters and Seeking Alpha.
Astera Labs is a global leader in purpose-built connectivity solutions that unlock the full potential of cloud and AI infrastructure. Their Intelligent Connectivity Platform integrates PCIe, CXL and Ethernet semiconductor-based solutions based on a software-defined architecture that is both scalable and customizable. Inspired by trusted partnerships with hyperscalers and the data center ecosystem, Astera is an innovation leader of products that are flexible, interoperable, and reliable.
The deal team was led by Bradley Weber, Julia White, Patty Shields, Nikki Miller and Rylee Sherouse (Capital Markets); John Hutar, Gabe Choi and Jenna Zendarski (Corporate); Lynda Galligan, Monica Patel, Andre Amorim and James Oh (Executive Compensation & Benefits); Kevin Lam, Brittany Fayette and Patrick Park (IPTS); Jackie Klosek and Ora Grinberg and Garrett Gaughan (Tax); Brynn Peltz (’40 Act Matters); and Maggie Wong (Opinions); with invaluable assistance from James Matarese, Jen Luz, Jim Hammons, Eric Graffeo, Rahat Tariq, Frances Dea and Cody Foster.
For additional details on the offering, please read the press release and coverage in MarketWatch, Reuters and Seeking Alpha.