Allegro MicroSystems Announces Pricing of Initial Public Offering

Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in sensing and power semiconductor technology, announced today the pricing of its initial public offering of 25,000,000 shares of its common stock at a price to the public of $14.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALGM” on October 29, 2020. The gross proceeds of the offering, before deducting the underwriting discount and offering expenses, are expected to be $350.0 million. The offering is expected to close on November 2, 2020, subject to customary closing conditions.

Certain stockholders of Allegro have granted the underwriters a 30-day option to purchase up to 3,750,000 additional shares of common stock. Allegro will not receive the proceeds from any sale of common stock by such stockholders.

Barclays, Credit Suisse, and Wells Fargo Securities are serving as joint lead book-running managers for the offering. Jefferies, Mizuho Securities, Needham & Company and SMBC Nikko are also acting as book-running managers for the offering.

The offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering, when available, may be obtained from Barclays Capital Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847, or by email at Barclaysprospectus@broadridge.com; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis 31 Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: usa.prospectus@credit-suisse.com; Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at 800-326-5897 or by email at cmclientsupport@wellsfargo.com.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on October 28, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Media Contact:

Katherine Blye
Senior Director of Investor Relations & Marcom
Phone: (603) 626-2306
kblye@allegromicro.com