Ambarella, a developer of semiconductor offerings for high definition video capture and display, announced terms for its IPO on Wednesday. The Santa Clara, CA-based company plans to raise $60 million by offering 6.0 million shares (18% insider) at a price range of $9 to $11. At the midpoint of the proposed range, Ambarella would command a fully diluted market value of $278 million.
Ambarella, which was founded in 2004 and booked $107 million in sales for the 12 months ended 7/31/2012, plans to list on the NASDAQ under the symbol AMBA. Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal.
