Mellanox Technologies, a semiconductor company with headquarters in Yokneam, Israel, but with offices in Santa Clara, has filed for an initial public offering, with plans to issue 6 million shares for $12 to $14 per share.
The company said it is seeking a Nasdaq symbol “MLNX.”
See the filing here.
It says that U.S. investors Sequoia Capital, Intel, and U.S. Venture Partners will own 22.86 percent of the company after the IPO. Those firms, plus others, invested a total of $97.8 million:
Our executive officers and directors and their affiliates, together with our current significant shareholders, will beneficially own approximately 31.82% of our outstanding ordinary shares upon completion of this offering (excluding any shares that may be purchased by our existing shareholders in this offering). Moreover, three of our shareholders, Sequoia Capital Partners, U.S. Venture Partners and Intel Atlantic, Inc., will beneficially own approximately 22.86% of our outstanding ordinary shares upon completion of this offering. In addition, individual partners of U.S. Venture Partners and Bessemer Venture Partners serve on our board of directors. Accordingly, these shareholders, acting as a group, will continue to have significant influence over the outcome of corporate actions requiring shareholder approval, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets or any other significant corporate transaction. These shareholders could delay or prevent a change of control of our company, even if such a change of control would benefit our other shareholders. The significant concentration of share ownership may adversely affect the trading price of our ordinary shares due to investors’ perception that conflicts of interest may exist or arise.