Intel-Backed Astera Labs Hikes IPO Size-March 2024-www.financetom.com

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Intel-Backed Astera Labs Hikes IPO Size

Mar 18, 2024 7:57 AM

10:36 AM EDT, 03/18/2024 (MT Newswires) -- Intel ( INTC )-backed (INTC) semiconductor-based connectivity firm Astera Labs has increased the size of its proposed initial public offering, according to Astera filings with US Securities and Exchange Commission.

Astera and its shareholders now plan to sell 19.8 million shares at a price of between $32 and $34 per share, the company said in a SEC filing on Monday.

The company and its investors were planning to sell 17.8 million shares at $27 to $30 per share previously, according to its March 8 filing.

Astera said it plans to list its shares on Nasdaq under the ticker ALAB.

Price: 43.16, Change: +0.51, Percent Change: +1.21

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