QLogic Common Shares

QLogic Corp. has begun a 2.3-million common share offering at $31.25 a share.

The company said it expects net proceeds of about $67.4 million from the sale, which it plans to use for working capital and general corporate purposes.

Managing underwriters of the offering are Cowen & Co., Prudential Securities Inc. and Morgan Keegan & Co. They have a 30-day period to exercise an option to buy up to 345,000 additional common shares to cover over-allotments.

QLogic designs and supplies semiconductor and board-level input/output products.