Key Developments: Vitesse Semiconductor Corp (VTSS.OQ)
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Latest Key Developments (Source: Significant Developments)
Vitesse Semiconductor Corp Closes $40.2 Million Public Offering of Common Stock
Vitesse Semiconductor Corp announced the closing of an underwritten public offering for 18,720,000 shares of its common stock, which includes the exercise in full by the underwriters of their over-allotment option, at a per share price to the public of $2.15. The Company will receive net proceeds of approximately $37.5 million after deducting the underwriting discount and estimated offering expenses. Certain officers and directors of Vitesse participated in the offering. Needham & Company, LLC acted as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC and Imperial Capital, LLC acted as co-managers. Counsel for Vitesse was Stubbs Alderton & Markiles, LLP. Full Article
Vitesse Semiconductor Corp Prices Underwritten Public Offering of Common Stock
Vitesse Semiconductor Corp announced the pricing of an underwritten public offering of 16,300,000 shares of its common stock at a price to the public of $2.15 per share. The Company has also granted to the underwriters a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 2,420,000 shares to cover over-allotments in connection with the offering. After deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $32.6 million, assuming no exercise of the over-allotment option. The offering is expected to close on or about June 25, 2013, subject to customary closing conditions. Needham & Company, LLC is acting as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC and Imperial Capital, LLC are acting as co-managers. Vitesse intends to use the net proceeds from the offering for working capital and general corporate purposes. A portion of the net proceeds also may be used to repay or restructure indebtedness. The shares described above are being offered by Vitesse pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission. Full Article
Vitesse Semiconductor Corp Announces Proposed Public Offering of Common Stock
Vitesse Semiconductor Corp announced that it is offering to sell shares of its common stock in an underwritten public offering in an amount of approximately $30 million (not including any exercise of a 15% over-allotment option to be granted to the underwriters). Needham & Company, LLC is acting as the sole bookrunning manager of the offering. The offering is expected to price after the close of trading on June 19, 2013. Vitesse Semiconductor Corp Full Article
Vitesse Semiconductor Corp Issues Q3 2013 Revenue Guidance In Line With Analysts' Estimates
Vitesse Semiconductor Corp announced that for the third quarter of 2013, it expects revenues to be in the range of $25.0 million to $27.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $27.3 million for the third quarter of 2013. Full Article
Vitesse Semiconductor Corp Issues Q2 2013 Revenue Guidance Below Analysts' Estimates
Vitesse Semiconductor Corp announced that for the second quarter of 2013, it expects revenues to be in the range of $25.0 million to $28.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $28.5 million for the second quarter of 2013. Full Article
Vitesse Semiconductor Corp Prices Underwritten Public Offering of Common Stock
Vitesse Semiconductor Corp announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $1.75 per share. The Company has also granted to the underwriters a 30-day option to purchase, at the same price per share as the underwriters paid for the initial shares, an additional 1,409,294 shares to cover over-allotments in connection with the offering. After deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $16.1 million, assuming no exercise of the over-allotment option. The offering is expected to close on December 12, 2012, subject to customary closing conditions. Needham & Company, LLC is acting as the sole book-running manager of the offering. Craig-Hallum Capital Group LLC is acting as co-manager. Vitesse intends to use the net proceeds from the offering for working capital and general corporate purposes. A portion of the net proceeds also may be used to repay or restructure indebtedness. Full Article
Vitesse Semiconductor Corp Announces Proposed Public Offering of Common Stock
Vitesse Semiconductor Corp announced that it is offering to sell shares of its common stock in an underwritten public offering. Needham & Company, LLC is acting as the sole bookrunning manager of the offering. Craig-Hallum Capital Group LLC is acting as co-manager. The offering is expected to price on or about Friday, December 7, 2012. Certain officers and directors of Vitesse Semiconductor Corporation are expected to participate in the offering. Vitesse intends to use the net proceeds from the offering for working capital and general corporate purposes. A portion of the net proceeds also may be used to repay or restructure indebtedness. Full Article
Vitesse Semiconductor Corp Issues Q1 2013 Revenue Guidance Below Analysts' Estimates
Vitesse Semiconductor Corp announced that for the first quarter of 2013, it expects revenues to be in the range of $25.0 million to $27.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $30.72 million for the first quarter of 2013. Full Article
Vitesse Semiconductor Corp Reaffirms Q4 2012 Revenue Guidance-Conference Call
Vitesse Semiconductor Corp announced that for the fourth quarter 2012, it expects revenues similar to the prior quarters and expects revenues between $28 million and $31.5 million, slightly up, down from the prior quarters. Full Article
Vitesse Semiconductor Corp. Issues Q4 2012 Revenue Guidance In Line With Analysts' Estimates
Vitesse Semiconductor Corp. announced that for the fourth quarter of 2012, it expects revenues to be in the range of $28.0 million to $31.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $31.3 million for the fourth quarter of 2012. Full Article
Mistrial declared again in case against ex-Vitesse execs
NEW YORK, Feb 20 - A federal judge declared a mistrial on Wednesday in a criminal case against two former top executives at Vitesse Semiconductor Corp who were accused of inflating company earnings and backdating stock options.

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