The IPO Buzz: Astera Labs (ALAB Proposed) Sets Terms for $507.3 Million IPO in Mid-March

Astera Labs (ALAB Proposed), the semiconductor connectivity company, unveiled the terms for its $507.3 million IPO – 17.8 million shares at a price range of $27.00 to $30.00 a share – in an S-1/A filing early today – Friday, March 8, 2024. The IPO is expected to price on Tuesday night, March 19, 2024, to trade Wednesday, March 20, on the NASDAQ.  (Editor’s Note: Corrects typo in the pricing date to read 2024 and not “2023” – IPOScoop regrets the error.)

Morgan Stanley and J.P. Morgan are leading the joint book-runners’  team, which includes Barclays, Deutsche Bank Securities, Evercore ISI and Jefferies.

The Santa Clara, California-based company is offering 14.79 million shares and selling stockholders are offering 3.01 million shares, according to the prospectus. Astera Labs will not receive any proceeds from the sale of the selling stockholders’ shares.

Astera Labs will have a valuation – or market cap – of about $4.29 billion, assuming the IPO is priced at its $28.50 mid-point.

The company, founded in 2017, says its mission is “to innovate, design, and deliver semiconductor-based connectivity solutions that are purpose-built to unleash the full potential of cloud and AI infrastructure,” according to the prospectus.

Stay tuned. 

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