SemiLEDs Corp. announced the pricing of its initial public offering (IPO) of 5.25 million shares of its common stock, at $17 per share.

With all shares being sold by the company, it has granted the underwriters a 30-day option to purchase up to an additional 787,500 shares at the IPO price to cover overallotments, if any. The common stock is now available for trading on the NASDAQ Global Select Market.

Net proceeds from the sale of the common stock are approximately $79 million. The total net proceeds will be approximately $91.4 million if the overallotment option is exercised in full.

The company will use the money it receives to expand production capacity in Taiwan, research and development expenses related to LED chip production based on 6-in., and general corporate purposes, including working capital and capital expenditures. In addition, it may also use a portion of the funds to acquire or invest in complementary technologies, solutions or businesses, or to obtain rights to such.

SemiLEDs develops and manufacture LED chips and components for general lighting applications, including street lights and commercial, industrial and residential lighting.

For more information, visit: www.semileds.com