GigOptix sets public offering price

July 2, 2010
JULY 2, 2010 -- GigOptix has announced the pricing of a public offering of 2,460,000 shares of common stock. The price will be $1.75 per share.

JULY 2, 2010 -- GigOptix (OTCBB: GGOX) has announced the pricing of a public offering of 2,460,000 shares of common stock. The price will be $1.75 per share.

GigOptix has granted the underwriters a 30-day option to purchase up to 300,000 additional shares to cover over-allotments, if any. The offering is expected to close on or about July 8, 2010, subject to customary closing conditions. If the underwriters exercise their over-allotment option in full, the proceeds of the offering will be approximately $4.8 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by GigOptix of approximately $1 million.

Roth Capital Partners, LLC is acting as the sole manager of this offering. Nixon Peabody LLP is counsel to GigOptix and Lowenstein Sandler PC is counsel to Roth Capital Partners.

The offering is being made under GigOptix’ registration statement on Form S-1 filed with the Securities and Exchange Commission relating to the shares of GigOptix’ common stock, which was declared effective by the Securities and Exchange Commission on July 1, 2010 (see "GigOptix Inc. gains conditional listing approval from NYSE Amex" for more info).

GigOptix makes a wide variety of electronics devices for optical communications applications. The company, formerly known as iTerra, launched an aggressive reshaping initiative in 2007 (see "iTerra pushes ‘restart’ with new name, products") that has seen the company expand its 10G device capabilities and move into higher speeds. For example, it recently announced orders for 100-Gbps modulators (see "GigOptix announces additional shipments of 100G thin film polymer on silicon modulators") and modulator drivers (see "GigOptix receives $2M in orders for 100G DWDM modulator drivers").

Dr. Avi Katz, company president and CEO, stated, “We are pleased to have raised these additional funds in this challenging market environment that will enable us to accelerate our ongoing growth and customer penetration. GigOptix welcomes these new investors as we strive to expand the institutional holdings within our shareholder base. The proceeds from this offering further strengthen the company’s financial foundation.”

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