Summary
18.90 -0.94(-4.72%)11/15/2024
Allegro Microsystems Inc. (ALGM)
ALGM reported last earnings on 2024-10-31 after the market. An EPS of $0.08 was observed compared to an estimated EPS of $0.06, resulting in a surprise value of $0.02. A revenue of $187 million was observed compared to an estimated revenue of $188 million, resulting in a surprise value of $-0 Million.
Allegro Microsystems Inc. (ALGM)
Key Facts
| 1 Day | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 5 Years | All Time |
| -4.72 | -0.92 | 4.66 | 3.14 | -26.87 | -15.53 | 0.00 | 24.32 |
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Earnings
| Trading Data | ||
| Close | 18.90 | |
| Open | 19.54 | |
| High | 19.69 | |
| Low | 18.90 | |
| Volume | 337,996 | |
| Change | -0.94 | |
| Change % | -4.72 | |
| Avg Volume (20 Days) | 1,665,745 | |
| Volume/Avg Volume (20 Days) Ratio | 0.20 | |
| 52 Week Range | 19.71 - 33.26 | |
| Price vs 52 Week High | -43.19% | |
| Price vs 52 Week Low | -4.13% | |
| Range | 2.64 | |
| Gap Up/Down | 0.73 | |
Fundamentals | ||
| Market Capitalization (Mln) | 4,408 | |
| EBIDTA | 181,203,008 | |
| PE Ratio | 137.1369 | |
| PEG Ratio | 0.0000 | |
| WallStreet Target Price | 40.00 | |
| Book Value | 3.4550 | |
| Earnings Per Share | 0.2410 | |
| EPS Estimate Current Quarter | 0.1800 | |
| EPS Estimate Next Quarter | 0.1800 | |
| EPS Estimate Current Year | 0.4400 | |
| EPS Estimate Next Year | 0.6100 | |
| Diluted EPS (TTM) | 0.2410 | |
| Revenues | ||
| Profit Marging | 0.0893 | |
| Operating Marging (TTM) | 0.1838 | |
| Return on asset (TTM) | 0.1047 | |
| Return on equity (TTM) | 0.0999 | |
| Revenue TTM | 721,308,992 | |
| Revenue per share TTM | 4.1630 | |
| Quarterly Revenue Growth (YOY) | 0.4170 | |
| Quarterly Earnings Growth (YOY) | -0.8230 | |
| Gross Profit (TTM) | 294,316,000 | |
| Dividends | ||
| Dividend Share | 0.0000 | |
| Dividend Yield | ||
| Valuations | ||
| Trailing PE | 137.1369 | |
| Forward PE | 34.4828 | |
| Price Sales (TTM) | 0.0000 | |
| Price Book (MRQ) | 9.8032 | |
| Revenue Enterprise Value | 8.6218 | |
| EBITDA Enterprise Value | 59.5652 | |
| Shares | ||
| Shares Outstanding | 189,703,008 | |
| Shares Float | 64,447,647 | |
| Shares Short | 0 | |
| Shares Short (Prior Month) | 0 | |
| Shares Ratio | 0.00 | |
| Short Outstanding (%) | 0.00 | |
| Short Float (%) | 0.00 | |
| Insider (%) | 55.01 | |
| Institutions (%) | 46.38 | |
11/15 09:20 EST - prnewswire.com
Cyient, Allegro MicroSystems Partner to Drive Innovation in Magnetic Sensors & Power Semiconductors for Automotive Industry
HYDERABAD, India , Nov. 15, 2024 /PRNewswire/ -- Cyient, a global Intelligent Engineering services company, today announced the expansion of its partnership with Allegro MicroSystems, Inc. ("Allegro MicroSystems") (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India. The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semiconductor products for the automotive industry.
Cyient, Allegro MicroSystems Partner to Drive Innovation in Magnetic Sensors & Power Semiconductors for Automotive Industry
HYDERABAD, India , Nov. 15, 2024 /PRNewswire/ -- Cyient, a global Intelligent Engineering services company, today announced the expansion of its partnership with Allegro MicroSystems, Inc. ("Allegro MicroSystems") (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India. The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semiconductor products for the automotive industry.
11/15 08:00 EST - globenewswire.com
Allegro MicroSystems to Present at Wells Fargo's 8th Annual TMT Summit on December 4, 2024
MANCHESTER, N.H., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced that the company will present at Wells Fargo's 8th Annual TMT Summit on Wednesday, December 4, 2024 at the Terranea Resort in Rancho Palos Verdes, CA. Derek D'Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 11:00 AM PST.
Allegro MicroSystems to Present at Wells Fargo's 8th Annual TMT Summit on December 4, 2024
MANCHESTER, N.H., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced that the company will present at Wells Fargo's 8th Annual TMT Summit on Wednesday, December 4, 2024 at the Terranea Resort in Rancho Palos Verdes, CA. Derek D'Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 11:00 AM PST.
11/12 03:00 EST - globenewswire.com
Allegro MicroSystems Introduces Advanced Magnetic and Inductive Position Sensing Solutions at Electronica 2024
New Solutions Enhance Accuracy, Efficiency, and Reliability While Reducing Power Consumption by up to 50% Compared to Existing Switches and Latches New Solutions Enhance Accuracy, Efficiency, and Reliability While Reducing Power Consumption by up to 50% Compared to Existing Switches and Latches
Allegro MicroSystems Introduces Advanced Magnetic and Inductive Position Sensing Solutions at Electronica 2024
New Solutions Enhance Accuracy, Efficiency, and Reliability While Reducing Power Consumption by up to 50% Compared to Existing Switches and Latches New Solutions Enhance Accuracy, Efficiency, and Reliability While Reducing Power Consumption by up to 50% Compared to Existing Switches and Latches
11/11 17:03 EST - https://thefly.com
Loop starts Allegro at Buy, says 'checks boxes' in secular growth drivers
Loop Capital initiated coverage of Allegro MicroSystems with a Buy rating and $30 price target. While cyclical headwinds my limit Allegro's bounce off the bottom, at least in the near-term, the firm believes investors should overweight stocks/companies with high exposure to the automotive end market, and overweight the companies exposed to the fastest growing automotive trends. Allegro "checks all these boxes" in secular growth drivers, and its auto+industrial end market exposure may be particularly well suited for an environment with falling interest rates, the analyst tells investors in a research note.
Loop starts Allegro at Buy, says 'checks boxes' in secular growth drivers
Loop Capital initiated coverage of Allegro MicroSystems with a Buy rating and $30 price target. While cyclical headwinds my limit Allegro's bounce off the bottom, at least in the near-term, the firm believes investors should overweight stocks/companies with high exposure to the automotive end market, and overweight the companies exposed to the fastest growing automotive trends. Allegro "checks all these boxes" in secular growth drivers, and its auto+industrial end market exposure may be particularly well suited for an environment with falling interest rates, the analyst tells investors in a research note.
11/11 16:17 EST - https://thefly.com
Allegro MicroSystems initiated with a Buy at Loop Capital
Loop Capital initiated coverage of Allegro MicroSystems with a Buy rating and $30 price target.
Allegro MicroSystems initiated with a Buy at Loop Capital
Loop Capital initiated coverage of Allegro MicroSystems with a Buy rating and $30 price target.
11/04 08:00 EST - globenewswire.com
Allegro MicroSystems Unveils Innovative Power Products for a More Energy Efficient Future
Allegro's New Solutions Deliver Design Simplicity With Cost Savings Allegro's New Solutions Deliver Design Simplicity With Cost Savings
Allegro MicroSystems Unveils Innovative Power Products for a More Energy Efficient Future
Allegro's New Solutions Deliver Design Simplicity With Cost Savings Allegro's New Solutions Deliver Design Simplicity With Cost Savings
10/31 14:34 EST - seekingalpha.com
Allegro MicroSystems, Inc. (ALGM) Q2 2025 Earnings Call Transcript
Allegro MicroSystems, Inc. (NASDAQ:ALGM ) Q2 2025 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Jalene Hoover – Vice President of Investor Relations and Corporate Communications Vineet Nargolwala – President and Chief Executive Officer Derek D'Antilio – Chief Financial Officer Conference Call Participants Blayne Curtis – Jefferies Thomas O'Malley – Barclays Chris Caso – Wolfe Research Tim Arcuri – UBS Vijay Rakesh – Mizuho Mark Lipacis – Evercore Quinn Bolton – Needham & Company Operator Good morning, and welcome to the Allegro MicroSystems Second Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in listen-only mode.
Allegro MicroSystems, Inc. (ALGM) Q2 2025 Earnings Call Transcript
Allegro MicroSystems, Inc. (NASDAQ:ALGM ) Q2 2025 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Jalene Hoover – Vice President of Investor Relations and Corporate Communications Vineet Nargolwala – President and Chief Executive Officer Derek D'Antilio – Chief Financial Officer Conference Call Participants Blayne Curtis – Jefferies Thomas O'Malley – Barclays Chris Caso – Wolfe Research Tim Arcuri – UBS Vijay Rakesh – Mizuho Mark Lipacis – Evercore Quinn Bolton – Needham & Company Operator Good morning, and welcome to the Allegro MicroSystems Second Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in listen-only mode.
10/31 09:20 EST - zacks.com
Allegro MicroSystems, Inc. (ALGM) Q2 Earnings and Revenues Surpass Estimates
Allegro MicroSystems, Inc. (ALGM) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.40 per share a year ago.
Allegro MicroSystems, Inc. (ALGM) Q2 Earnings and Revenues Surpass Estimates
Allegro MicroSystems, Inc. (ALGM) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.40 per share a year ago.
10/31 07:00 EST - globenewswire.com
Allegro MicroSystems Reports Second Quarter 2025 Results
MANCHESTER, N.H., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro” or the “Company”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024.
Allegro MicroSystems Reports Second Quarter 2025 Results
MANCHESTER, N.H., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro” or the “Company”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its second quarter ended September 27, 2024.
10/10 08:00 EST - globenewswire.com
Allegro MicroSystems to Announce Second Quarter Fiscal 2025 Financial Results
MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook.
Allegro MicroSystems to Announce Second Quarter Fiscal 2025 Financial Results
MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook.
10/09 14:03 EST - gurufocus.com
JPMorgan Chase & Co's Strategic Acquisition in Allegro Microsystems Inc
On September 30, 2024, JPMorgan Chase & Co. made a significant addition to its investment portfolio by acquiring 1,887,465 shares of Allegro Microsystems Inc (ALGM, Financial), a prominent player in the semiconductor industry. This transaction, executed at a price of $23.30 per share, increased JPMorgan's total holdings in the company to 11,026,515 shares, marking a substantial investment move.
JPMorgan Chase & Co's Strategic Acquisition in Allegro Microsystems Inc
On September 30, 2024, JPMorgan Chase & Co. made a significant addition to its investment portfolio by acquiring 1,887,465 shares of Allegro Microsystems Inc (ALGM, Financial), a prominent player in the semiconductor industry. This transaction, executed at a price of $23.30 per share, increased JPMorgan's total holdings in the company to 11,026,515 shares, marking a substantial investment move.
09/13 16:11 EST - zacks.com
Allegro MicroSystems Down 30% YTD: How Should You Play the Stock?
ALGM's shares have struggled with weak demand and intense competition. However, expanding its portfolio is likely to drive near-term growth.
Allegro MicroSystems Down 30% YTD: How Should You Play the Stock?
ALGM's shares have struggled with weak demand and intense competition. However, expanding its portfolio is likely to drive near-term growth.
09/11 08:00 EST - globenewswire.com
Allegro MicroSystems Introduces High-Bandwidth Current Sensors Incorporating XtremeSense™ TMR Technology
New current sensors utilizing Allegro's patented XtremeSense™ TMR technology represent the first products launched since the company's acquisition of Crocus Technologies New current sensors utilizing Allegro's patented XtremeSense™ TMR technology represent the first products launched since the company's acquisition of Crocus Technologies
Allegro MicroSystems Introduces High-Bandwidth Current Sensors Incorporating XtremeSense™ TMR Technology
New current sensors utilizing Allegro's patented XtremeSense™ TMR technology represent the first products launched since the company's acquisition of Crocus Technologies New current sensors utilizing Allegro's patented XtremeSense™ TMR technology represent the first products launched since the company's acquisition of Crocus Technologies
08/01 14:59 EST - seekingalpha.com
Allegro MicroSystems, Inc. (ALGM) Q1 2025 Earnings Call Transcript
Allegro MicroSystems, Inc. (NASDAQ:ALGM ) Q1 2025 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Jalene Hoover - Vice President of Investor Relations & Corporate Communications Vineet Nargolwala - President & Chief Executive Officer Derek D'Antilio - Senior Vice President, Chief Financial Officer & Treasurer Conference Call Participants Chris Caso - Wolfe Research Blayne Curtis - Jefferies Quinn Bolton - Needham Vijay Rakesh - Mizuho Thomas O'Malley - Barclays Joshua Buchalter - TD Cowen Mark Lipacis - Evercore ISI Operator Good morning and welcome to the Allegro MicroSystems First Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Allegro MicroSystems, Inc. (ALGM) Q1 2025 Earnings Call Transcript
Allegro MicroSystems, Inc. (NASDAQ:ALGM ) Q1 2025 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Jalene Hoover - Vice President of Investor Relations & Corporate Communications Vineet Nargolwala - President & Chief Executive Officer Derek D'Antilio - Senior Vice President, Chief Financial Officer & Treasurer Conference Call Participants Chris Caso - Wolfe Research Blayne Curtis - Jefferies Quinn Bolton - Needham Vijay Rakesh - Mizuho Thomas O'Malley - Barclays Joshua Buchalter - TD Cowen Mark Lipacis - Evercore ISI Operator Good morning and welcome to the Allegro MicroSystems First Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode.
08/01 09:25 EST - zacks.com
Allegro MicroSystems, Inc. (ALGM) Beats Q1 Earnings and Revenue Estimates
Allegro MicroSystems, Inc. (ALGM) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.39 per share a year ago.
Allegro MicroSystems, Inc. (ALGM) Beats Q1 Earnings and Revenue Estimates
Allegro MicroSystems, Inc. (ALGM) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.39 per share a year ago.
08/01 07:00 EST - globenewswire.com
Allegro MicroSystems Reports First Quarter 2025 Results
– Sales of $167 Million Above Mid-point of Our Outlook – – Made $50 Million Voluntary Debt Repayment – – Announced Repurchase of 39 Million Shares From Majority Shareholder –
Allegro MicroSystems Reports First Quarter 2025 Results
– Sales of $167 Million Above Mid-point of Our Outlook – – Made $50 Million Voluntary Debt Repayment – – Announced Repurchase of 39 Million Shares From Majority Shareholder –
07/31 17:40 EST - globenewswire.com
Allegro MicroSystems Announces Allocation of Increased Term Loan and Refinancing of Existing Term Loan
MANCHESTER, N.H., July 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the allocation of a $400,000,000 term loan tranche (the "Term Loan"), consisting of new term loans incurred, in relevant part, to facilitate the repurchase of shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”), to fully refinance Allegro's existing term loan facility, and otherwise for general corporate purposes. The new term loan tranche is expected to have a maturity date of October 31, 2030 and to bear interest at an annual rate based on the Secured Overnight Financing Rate (“SOFR”) plus an interest rate margin of 2.25%, which annual rate represents a 0.50% per annum reduction as compared to Allegro's existing term loan facility. The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Term Loan.
Allegro MicroSystems Announces Allocation of Increased Term Loan and Refinancing of Existing Term Loan
MANCHESTER, N.H., July 31, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the allocation of a $400,000,000 term loan tranche (the "Term Loan"), consisting of new term loans incurred, in relevant part, to facilitate the repurchase of shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”), to fully refinance Allegro's existing term loan facility, and otherwise for general corporate purposes. The new term loan tranche is expected to have a maturity date of October 31, 2030 and to bear interest at an annual rate based on the Secured Overnight Financing Rate (“SOFR”) plus an interest rate margin of 2.25%, which annual rate represents a 0.50% per annum reduction as compared to Allegro's existing term loan facility. The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Term Loan.
07/29 16:05 EST - globenewswire.com
Allegro MicroSystems, Inc. Enters Its Next Phase as a Public Company with Repurchase of 39 Million Shares Held by Sanken Electric
MANCHESTER, N.H., July 29, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) (“Allegro”), a global leader in power and sensing solutions for motion control and energy-efficient systems, announced today that it has completed the closing of the first of two repurchases for a total of 39 million shares of common stock from Allegro's largest shareholder, Sanken Electric Co., Ltd. (“Sanken”), all of which will be retired.
Allegro MicroSystems, Inc. Enters Its Next Phase as a Public Company with Repurchase of 39 Million Shares Held by Sanken Electric
MANCHESTER, N.H., July 29, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Nasdaq: ALGM) (“Allegro”), a global leader in power and sensing solutions for motion control and energy-efficient systems, announced today that it has completed the closing of the first of two repurchases for a total of 39 million shares of common stock from Allegro's largest shareholder, Sanken Electric Co., Ltd. (“Sanken”), all of which will be retired.
07/24 20:00 EST - globenewswire.com
Allegro MicroSystems Announces Pricing of Primary Offering
MANCHESTER, N.H., July 24, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the pricing of a primary offering of 25,000,000 shares of common stock at a public offering price of $24.00 per share, resulting in gross proceeds of $600,000,000 to Allegro (or $579,000,000 to Allegro after giving effect to the underwriters' discount of $0.84 per share). In addition, Allegro has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”) at a price per share equal to the price per share at which the underwriters will purchase shares of our common stock in the equity offering from Allegro. On an as adjusted basis after giving effect to the offering and the share repurchase, Sanken will hold approximately 33.2% (or 32.5% if the underwriters' option to purchase additional shares of Allegro's common stock is exercised in full) of Allegro's outstanding common stock. The offering is expected to close on or about July 26, 2024, subject to the satisfaction of customary closing conditions.
Allegro MicroSystems Announces Pricing of Primary Offering
MANCHESTER, N.H., July 24, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the pricing of a primary offering of 25,000,000 shares of common stock at a public offering price of $24.00 per share, resulting in gross proceeds of $600,000,000 to Allegro (or $579,000,000 to Allegro after giving effect to the underwriters' discount of $0.84 per share). In addition, Allegro has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”) at a price per share equal to the price per share at which the underwriters will purchase shares of our common stock in the equity offering from Allegro. On an as adjusted basis after giving effect to the offering and the share repurchase, Sanken will hold approximately 33.2% (or 32.5% if the underwriters' option to purchase additional shares of Allegro's common stock is exercised in full) of Allegro's outstanding common stock. The offering is expected to close on or about July 26, 2024, subject to the satisfaction of customary closing conditions.
07/23 16:06 EST - globenewswire.com
Allegro MicroSystems Launches Incremental Term Loan
MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”). The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Incremental Term Loan.
Allegro MicroSystems Launches Incremental Term Loan
MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. (“Sanken”). The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Incremental Term Loan.