:max_bytes(150000):strip_icc()/GettyImages-20216801751-962d3f2c10a34630a02ae5eba16937a6.jpg "Astera Labs Raises IPO Target to $673.2 Million")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-20216801751-962d3f2c10a34630a02ae5eba16937a6.jpg)
Key Takeaways
- Astera Labs raised the amount the company and its investors aim to raise in its initial public offering (IPO) to $673.2 million from $534 million, according to a Securities and Exchange Commission filing Monday.
- The IPO offering consists of a total of 19.8 million shares, up from 17.8 million shares.
- Shares are expected to be priced between $32 and $34, increased from between $27 and $30.
- The stock could start trading on the Nasdaq as soon as this week under the ticker “ALAB.”
- Astera Labs, which designs and delivers semiconductor-based connectivity solutions for cloud and AI infrastructure, could be the latest stock to benefit from AI enthusiasm.
Astera Labs raised the amount the company and its investors aim to raise in its upcoming initial public offering (IPO) to as much as $673.2 million from $534 million, with the company expected to ride the artificial intelligence (AI) wave.
An amended Form S-1 filed with the U.S. Securities and Exchange Commission (SEC) Monday showed the company boosted the number of shares and the anticipated price per share in its upcoming IPO.
The IPO offering consists of a total of 19.8 million shares, up from 17.8 million shares. Nearly 16.79 million shares are from the company and more than 3.01 million shares are being sold by existing shareholders.
The shares are to be priced between $32 and $34, increased from between $27 and $30. The stock could start trading on the Nasdaq as soon as this week under the ticker “ALAB.”
The company, which designs and delivers semiconductor-based connectivity solutions for cloud and AI infrastructure, could be the latest stock to benefit from the surge in investor interest in AI.