Astera Labs launched an initial public offering of 17,800,000 shares of its common stock. The offering consists of 14,788,903 shares of common stock offered by Astera Labs and 3,011,097 shares of common stock to be sold by certain of Astera Labs’ existing stockholders. Astera Labs will not receive any proceeds from the sale of shares by the selling stockholders.
In addition, the underwriters will have a 30-day option to purchase up to an additional 2,670,000 shares of common stock from Astera Labs at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $27.00 and $30.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALAB.”
- In November 2022. Astera Labs, a start-up based in Santa Clara, California, raised $150 million in Series-D funding with a $3.15B valuation for its data and memory connectivitysolutions based on Compute Express Link (CXL), PCIe, and Ethernet technologies.Fidelity led the funding round and was joined by other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures.
