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]

Company Overview - Allegro MicroSystems, Inc. is a global leader in power and sensing solutions for motion control and energy-efficient systems, focusing on sensor integrated circuits and application-specific analog power ICs [3] - The company provides solutions for various sectors, including automotive electrification, ADAS safety features, Industry 4.0 automation, and energy-saving technologies for data centers and clean energy applications [3] Recent Developments - Allegro announced the launch of syndication for an incremental term loan under a Credit Agreement dated June 21, 2023, with proceeds intended for share repurchase from its majority shareholder, Sanken Electric Co., Ltd. [1] - The completion of these transactions is subject to market conditions, and there is no assurance regarding the timing or terms of the Incremental Term Loan [1] Financial Arrangements - Morgan Stanley and Barclays are acting as joint lead arrangers and book-runners for the Incremental Term Loan, while PJT Partners serves as the financial advisor to Allegro [2]

Company Overview - Allegro MicroSystems, Inc. is a global leader in power and sensing solutions for motion control and energy-efficient systems, focusing on sensor integrated circuits and application-specific analog power ICs [3] - The company provides solutions for various markets, including automotive, industrial, and clean energy applications, supporting the electrification of vehicles and automation for Industry 4.0 [3] Recent Developments - Allegro announced the launch of syndication for an incremental term loan under a Credit Agreement dated June 21, 2023, with proceeds intended for share repurchase from its majority shareholder, Sanken Electric Co., Ltd. [1] - The completion of these transactions is subject to market conditions, and there is no assurance regarding the timing or terms of the Incremental Term Loan [1] Financial Arrangements - Morgan Stanley and Barclays are acting as joint lead arrangers and book-runners for the Incremental Term Loan, while PJT Partners serves as the financial advisor to Allegro [2]

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-39675 ALLEGRO MICROSYSTEMS, INC. (Exact name of registrant as specified in its charter) Delaware 46-240 ...

MANCHESTER, N.H., May 21, 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 the third product in its High Voltage Power-Thru™ portfolio. Allegro's two-chip AHV85000 and AHV85040 isolated gate-driver IC solutions work together with external transformers to provide the freedom to design and maximize power efficiency for clean energy applications, including ...