Zarlink raises proposed offering by $20 million

Zarlink Semiconductor Inc. increases its proposed public offering of subscription receipts by $20 million for a total $75 million to help finance the buyout of Austin-based Legerity Holdings Inc. The agreement, signed with a syndicate of underwriters led by CIBC World Markets and including National Bank Financial, RBC Capital Markets and Scotia Capital, was amended from an earlier proposed offering of 55,000 subscription receipts totaling $55 million at an offering price $1,000 each. Zarlink has also granted the underwriters an option, exercisable up to 30 days following closing, to purchase as many as 11,250 additional subscription receipts. The offering is expected to close around July 30.

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