Ambiq Micro launched an underwritten public offering of 1,800,000 common stock shares. The edge AI semiconductor maker saw its stock decline 3.5% in premarket trading following the news.
The company anticipates net proceeds of approximately $152.3 million. Total proceeds may reach $175.2 million if underwriters fully exercise a 30-day option for 270,000 additional shares.
Ambiq intends to use the capital for general corporate purposes. BofA Securities and UBS Investment Bank are acting as joint lead book-running managers for the offering.