Astera Labs launched an initial public offering of 17,800,000 shares of its common stock. The offering consists of 14,788,903 shares of common stock offered by Astera Labs and 3,011,097 shares of common stock to be sold by certain of Astera Labs’ existing stockholders. Astera Labs will not receive any proceeds from the sale of shares by the selling stockholders.
In addition, the underwriters will have a 30-day option to purchase up to an additional 2,670,000 shares of common stock from Astera Labs at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $27.00 and $30.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ALAB.”
Astera Labs raises $150M for its CXL platform
Astera Labs, a start-up based in Santa Clara, California, raised $150 million in Series-D funding with a $3.15B valuation for its data and memory connectivity solutions based on Compute Express Link (CXL), PCIe, and Ethernet technologies.
Fidelity led the funding round and was joined by other existing investors, including Atreides Management, Intel Capital, and Sutter Hill Ventures.
“Astera Labs continues to surpass every milestone for a technology start-up, and we are now deep into the next stage of evolution for our company as we accelerate growth,” said Jitendra Mohan, CEO, Astera Labs. “This latest funding round is a testament that we are not only invested in the right growth markets such as Cloud, Artificial Intelligence/Machine Learning, and Hyperscale infrastructure, but that we are also able to consistently execute and deliver breakthrough connectivity products that are critical to our customers and partners.”
In its Series-D funding round led by Fidelity Management and Research, Astera Labs
