MANCHESTER, N.H., July 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the allocation of a $400,000,000 term loan tranche (the "Term Loan"), consisting of new term loans incurred, in relevant part, to facilitate the repurchase of shares from Allegro’s majority shareholder, Sanken Electric Co., Ltd. (“Sanken”), to fully refinance Allegro’s existing term loan faci ...

MANCHESTER, N.H., July 29, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) ("Allegro"), a global leader in power and sensing solutions for motion control and energy-efficient systems, announced today that it has completed the closing of the first of two repurchases for a total of 39 million shares of common stock from Allegro's largest shareholder, Sanken Electric Co., Ltd. ("Sanken"), all of which will be retired. The closing of the first repurchase was financed by issuing approximately 2 ...

MANCHESTER, N.H., July 29, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) (“Allegro”), a global leader in power and sensing solutions for motion control and energy-efficient systems, announced today that it has completed the closing of the first of two repurchases for a total of 39 million shares of common stock from Allegro’s largest shareholder, Sanken Electric Co., Ltd. (“Sanken”), all of which will be retired. The closing of the first repurchase was financed by issuing approximately ...

Company Overview - Allegro MicroSystems, Inc. is a global leader in power and sensing solutions for motion control and energy-efficient systems, focusing on automotive and industrial markets [5] - The company designs, develops, and manufactures sensor integrated circuits and application-specific analog power ICs, contributing to the electrification of vehicles and energy-efficient technologies [5] Offering Details - Allegro announced a primary offering of 25,000,000 shares of common stock at a public offering price of $24.00 per share, resulting in gross proceeds of $600,000,000 [1] - After accounting for underwriters' discounts, net proceeds to Allegro are expected to be $579,000,000 [1] - The underwriters have a 30-day option to purchase an additional 3,750,000 shares at the public offering price [1] - Proceeds will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd., at the same price per share as the offering [1] - Post-offering, Sanken will hold approximately 33.2% of Allegro's outstanding common stock, or 32.5% if the underwriters' option is fully exercised [1] Underwriters and Advisors - Barclays, Morgan Stanley, and UBS Investment Bank are acting as joint lead book-running managers for the offering [2] - BofA Securities, Mizuho, and Jefferies are serving as book-running managers, while PJT Partners and Needham & Company are co-managers [2] - PJT Partners is also acting as a financial advisor to Allegro [2] Regulatory Information - The offering is made pursuant to an effective shelf registration statement filed with the SEC on July 23, 2024 [2] - Shares will be offered only by means of a prospectus supplement and the accompanying prospectus [2]

MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurch ...

MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurc ...

MANCHESTER, N.H., July 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its first quarter fiscal 2025 prior to the market open on Thursday, August 1, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts ...

MANCHESTER, N.H., July 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for its first quarter fiscal 2025 prior to the market open on Thursday, August 1, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D’Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company’s results and business outlook. Analysts ...

Allegro MicroSystems (ALGM) recently launched a high-power current sensor, the ACS37220. The latest product, the ACS37220, is the smallest leaded magnetic current sensor, which has been rolled out as an improvement over the discrete shunt resistors and op-amps used currently.The product is expected to replace the traditional discrete shunt resistors and high-power sense resistors that have a larger footprint on electronics boards, have thermal issues and need multiple components.The new ACS37220 is a single ...

MANCHESTER, N.H., July 08, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of its newest high-power current sensor, the ACS37220, as well as the preliminary release of the industry's smallest leaded magnetic current sensor, the ACS37041. Allegro's latest solutions enable improved efficiency and reliability, enhanced system protection and a smaller bill of ...