Connectivity Firm Credo Prices US$200 Million Nasdaq IPO

Connectivity solutions provider Credo Technology Group (Nasdaq: CRDO) started trading on the Nasdaq Global Select Market today. The California-based firm aims to raise US$200 million in its debut on the US big board.

The offering consisted of 20.0 million common shares at US$10.00 per share. Around 18.4 million shares are being offered by the company and the remaining 1.6 million shares by the selling shareholders. The shares will be trading on the Nasdaq exchange under the symbol “CRDO”.

Goldman Sachs & Co., Jefferies, and BofA Securities, Inc. are acting as the joint bookrunners for the said offering. The underwriters were given a 30-day over-allotment option to purchase up to an additional 3.0 million shares at the same IPO price.

Founded in 2008, the company also has its offices in North America and Asia. It said that its solutions are aimed “for next-generation platforms requiring 25G, 50G, and 100G signal lane-rate connectivity for 100G, 200G, 400G, and 800G port-enabled networks.” 

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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