Astera expands IPO on AI strength
Business news
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By
Peter Clarke
Astera Labs Inc. (Santa Clara, Calif.). a 2017 startup developing connectivity chips for datacenters which recently announced its IPO, has increased the number of shares on offer and the expected price.
Astera and its investors plan to sell 19.8 million shares according to an updated registration statement filed Monday with the Securities and Exchange Commission at between US$32 and US$34. This would see the offer raise $673.2 million if priced at the top of the range.
Previously, the IPO consisted of 17.8 million shares at $27 to $30 each, or as much as $534 million. The increased pricing also lifts Astera’s valuation US$5.13 billion at the top of the range.
The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol ALAB.
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