Latham & Watkins Advises Allegro MicroSystems, Inc. in IPO
Allegro MicroSystems, Inc. (Allegro), a global leader in sensing and power semiconductor technology, has closed its initial public offering of 25 million shares of its common stock at a price to the public of US$14 per share. The shares began trading on the Nasdaq Global Select Market under the ticker symbol “ALGM” on October 29, 2020. The gross proceeds of the primary offering, before deducting the underwriting discount and offering expenses, were US$350 million.
Latham & Watkins LLP represented Allegro in the offering with a capital markets deal team led by New York partners Peter Labonski and Keith Halverstam, with New York associates Lindsey Mills, Claire Solimine, and James Dorian and Houston associate Danny Shulman. Structuring advice was provided by New York partner Tom Malone and Chicago partner Jonathan Solomon, with Chicago associates Sean Parish and Jacob Saslow. Advice was also provided on benefits & compensation matters by Los Angeles partner Larry Seymour, with Los Angeles associate Jordan David; and on tax matters by New York partner Matthew Dewitz, with New York associate Michael Yu.