Chip designer Ambiq Micro gains after boosted $156 mln equity raise
BUZZ-Chip designer Ambiq Micro gains after boosted $156 mln equity raise ** Chip designer Ambiq Micro's AMBQ.N shares up 3.9% at $82.87 on Weds after $156 mln follow-on offering
** Austin, Texas-based AMBQ late Tues announced pricing 2 mln shares at $78, a 2.2% discount to last sale
** Offering size increased from 1.8 mln shares
** AMBQ expects to use net offering proceeds primarily for general purposes, including sales and marketing activities, product development, capex
** BofA and UBS joint lead bookrunners, along with Needham, Stifel and Roth Capital as bookrunners
** AMBQ debuted nearly a year ago after IPO priced at $24
** Stock has more than tripled over the past three months and hit record intraday high of $91.61 last Thurs
** Avg rating among 5 analysts is "buy"; median PT $70, per latest LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))