Shearman & Sterling represented Cowen and Company, LLC and Needham & Company, LLC, as representatives of the underwriters, in connection with Adesto Technologies Corporation’s follow-on public offering of 6,700,000 shares of common stock. The net proceeds for the offering are intended to provide substantially all of the funding for Adesto’s acquisition of Echelon, which is expected to close in the third quarter of 2018.
Adesto Technologies Corporation, headquartered in Santa Clara, California, is a provider of application-specific semiconductors for the Internet of Things (IoT) era, serving over 2,000 customers worldwide who are creating IoT products across industrial, consumer, medical and communications markets. Since 2006, Adesto also produces low-power memory devices using CBRAM technology and low-voltage, feature-rich products targeted for specific end-systems, which extend battery life, reduce system power, accelerate processor performance and reduce overall system costs.
The Shearman & Sterling team below was supported by associates Rachel Kim (Menlo Park-Capital Markets) and Daniel Kachmar (New York-Tax).