SEC Approves Powerwave Stock Offer

Powerwave Technologies Inc. said Tuesday that its registration statement for a public offering of 3.25 million shares of common stock has been declared effective by the Securities and Exchange Commission.

Powerwave will sell 750,000 shares and certain selling shareholders will sell 2.5 million shares. The offering price was set at $22 per share, and Powerwave is expected to receive net proceeds of about $15.2 million.

Powerwave, a supplier of power amplifiers for wireless communications, expects to use the proceeds to pay for capital expenditures, to finance new product development and to increase available working capital.