Credo announces pricing of public offering

About this update from Credo Technology Group Holding Ltd

[{"type":"text","content":"SAN JOSE, Calif., Dec. 05, 2023 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Nasdaq: CRDO) (“Credo”) today announced the pricing of an underwritten public offering of 10,000,000 of its ordinary shares at a price to the public of $17.50 per share. An aggregate of 8,940,000 of the shares are being offered by Credo and 1,060,000 shares are being offered by selling shareholders. The gross proceeds from the offering to Credo, before deducting underwriting discounts and commissions and other offering expenses payable by Credo, are expected to be $156.5 million. The offering is scheduled to close on December 8, 2023, subject to the satisfaction of customary closing conditions. Credo’s ordinary shares are listed on the Nasdaq Global Select Market under the ticker symbol “CRDO”. The underwriters for the offering also have a 30-day option to purchase up to an additional 1,500,000 ordinary shares from Credo at the price to the public, less underwriting discounts and commissions. Goldman Sachs & Co. LLC is acting as lead book-running manager for the offering. Barclays, Needham & Company, Stifel and Mizuho are acting as book-running managers. Craig-Hallum and Roth Capital Partners are acting as co-managers for the offering. The shares are being offered pursuant to an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on December 5, 2023. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that forms a part of the registration statement. Before you invest, you should read the prospectus in that registration statement and the documents incorporated by reference in that registration statement, as well as the prospectus supplement related to this offering and the documents incorporated by reference therein. Copies of the final prospectus supplement and accompanying prospectus, when available, may be obtained on the SEC's website, www.sec.gov, or from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or juri...

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