Allegro has yet to set a price or indicate how much it tends to raise although for the purpose of setting the registration fee a maximum aggregate offering of $100 million was set.
Allegro MicroSystems is a fabless manufacturer and marketer of sensor ICs and application-specific analog power ICs for the automotive and industrial markets.
In its prospectus the company wants to use the proceeds of the IPO to invest in general expansion as it believes it is well-suited to exploit a cycle where industrial, automotive, data center and green microelectronics become drivers of the semiconductor basis.
In November 22, 2019, agreed to purchase Voxtel Inc. (Beaverton, Oregon), a developer of eye-safe lidar for use in ADAS, fully autonomous vehicles and industrial automation. The transaction closed in August 2020 for a price of $40 million including earn-outs that have a potential payout of $15 million.
The company has seen declining sales in its most recent fiscal years. In the year ending March 29, 2019 Allegro made a net profit of $84.8 million on net sales of $724.3 million. In the year ending March 27, 2020 Allegro made a net profit of $37.1 million on net sales of $650.1 million.
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