Peregrine Semiconductor, a fabless provider of radio frequency integrated circuits used in a variety of wireless applications, announced terms for its IPO on Wednesday. The San Diego, CA-based company plans to raise $83 million by offering 5.5 million shares (3% insider) at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Peregrine Semiconductor would command a fully diluted market value of $538 million.
Peregrine Semiconductor, which was founded in 1990 and booked $142 million in sales for the 12 months ended June 30, 2012, plans to list on the NASDAQ under the symbol PSMI. Deutsche Bank Securities and J.P. Morgan are the joint bookrunners on the deal.
