Microsemi’s Stock Sale Brings in $26 Million
Microsemi Corp., a Santa Ana-based manufacturer of semiconductor products, raised $26 million Thursday in a public offering of 3.25 million shares of common stock at $8 per share, according to PaineWebber Inc., one of the underwriters. The offering was increased from 2.5 million shares. Of the shares offered, 1.5 million were sold by Microsemi, which will use the proceeds to augment its working capital and for possible future acquisitions. The remaining 1.75 million shares were sold by investor Jacob M. Kaplan and several trusts he controls.