Astera Labs Announces Pricing of IPO

Astera Labs, Inc. announced the pricing of its initial public offering of 19,800,000 shares of its common stock at a price to the public of $36.00 per share.

The offering consists of 16,788,903 shares of common stock offered and 3,011,097 shares of common stock to be sold by certain of company’ existing stockholders.

In addition, the underwriters will have a 30-day option to purchase up to an additional 2,970,000 shares of common stock from Astera Labs at the IPO price, less underwriting discounts and commissions. The gross proceeds to the company from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by the company, are expected to be approximately $604.4 million. The firm will not receive any proceeds from the sale of shares by the selling stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol ALAB on March 20, 2024. The offering is expected to close on March 22, 2024, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as joint book runners for the offering. Barclays, Deutsche Bank Securities, Evercore ISI and Jefferies are additionally acting as book runners, and Needham & Company, Stifel, Craig-Hallum Capital Group, Roth Capital Partners, Loop Capital Markets and Siebert Williams Shank are acting as co-managers.