−Removed: Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
+Added: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
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In October 2020, we paid a cash dividend in the aggregate amount of $400.0 million to holders of our Class A common stock (see Note 19, “Common Stock and Stock-Based Compensation” to the consolidated financial statements).
−Removed: We currently intend to retain all available funds and any future earnings to fund the development and growth of our business and
−Removed: the repayment of outstanding debt.
+Added: We currently intend to retain all available funds and any future earnings to fund the development and growth of our business and the repayment of outstanding debt.
Therefore, we do not anticipate declaring or paying any additional cash dividends on our common stock in the foreseeable future.
−Removed: Price Range of Common Stock
−Removed: The following reflects the high and low sales prices of our common stock for fiscal 2021 since our initial public offering as reported by the Nasdaq Global Select Market:
−Removed: Common Stock Price
−Removed: Third Quarter ended December 25, 2020 (from October 29, 2020) $29.48 $16.78
−Removed: Fourth Quarter ended March 26, 2021 $34.66 $23.39
Stock Performance Graph
−Removed: The following Stock Price Performance Graph and related information includes comparisons required by the SEC.
−Removed: The Graph does not constitute “soliciting material” and should not be deemed “filed” or incorporated by reference into any other filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that we specifically incorporate this information by reference into such filing.
+Added: The following Stock Price Performance Graph and related information include comparisons required by the SEC.
+Added: The Graph does not constitute “soliciting material” and should not be deemed “filed” or incorporated by reference into any other filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent we specifically incorporate this information by reference into such filing.
The following line graph compares for the period beginning October 29, 2020, the initial trading date of our common stock on the Nasdaq Global Select Market, and ending on March 25, 2022, the last day of our fiscal year, the cumulative total stockholder return for our common stock, the Nasdaq Composite Index and Philadelphia Semiconductor Index, and assumes reinvestment of any dividends.
−Removed: The stockholder return in the graph below is not necessarily indicative of, nor it is intended to forecast, the potential future performance of our common stock, and we do not make or endorse any predictions as to future stockholder returns, We selected these comparative groups due to industry similarities and the fact that they contain several direct competitors.
+Added: The stockholder return in the graph below is not necessarily indicative of, nor it is intended to forecast, the potential future performance of our common stock, and we do not make or endorse any predictions as to future stockholder returns.
+Added: We selected these comparative groups due to industry similarities and the fact that they include several direct competitors.
October, 29, 2020 3/26/2021 3/25/2022
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Recent Sales of Unregistered Securities and Use of Proceeds
−Removed: During the period May 19, 2020 through July 31, 2020, the Company granted an aggregate of 17,203 shares of Class L Common Stock to employees.
−Removed: These transactions were exempt from registration under the Securities Act in reliance on Section 4(a)(2) of the Securities Act or Rule 701 under the Securities Act.
−Removed: Upon the completion of the Company’s initial public offering these shares were converted into approximately 223,807 shares of common stock.
Use of Proceeds from Registered Securities
−Removed: On October 28, 2020, the SEC declared effective our Registration Statement on Form S-1 (File No.
−Removed: 333-249348), as amended, filed in connection with our IPO (the “IPO Registration Statement”).
−Removed: Pursuant to the IPO Registration Statement, we registered the offer and sale of 25,000,000 shares of our common stock with an aggregate offering price of $350.0 million.
−Removed: Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, Jefferies LLC, Mizuho Securities USA LLC, Needham & Company, LLC and SMBC Nikko Securities America, Inc.
−Removed: served as underwriters for the offering.
−Removed: On November 2, 2020, we issued and sold 25,000,000 shares of our common stock, at a price to the public of $14.00 per share.
−Removed: Upon completion of the IPO on November 2, 2020, we received net proceeds of approximately $321.4 million, after deducting the underwriting discount of $20.1 million and offering expenses of $8.5 million.
−Removed: No payments for such expenses were made directly or indirectly to (i) any of our officers or directors or their associates, (ii) any persons owning 10% or more of any class of our equity securities or (iii) any of our affiliates.
−Removed: The offering terminated after the sale of all securities registered pursuant to the IPO Registration Statement.
−Removed: We used $300.0 million of the net proceeds of approximately $321.4 million from our IPO to repay borrowings under our Term Loan Facility, and the remainder of the net proceeds were invested in short-term, investment-grade instruments.
−Removed: There has been no material change in the expected use of the net proceeds from our IPO as described in the final prospectus relating to our IPO Registration Statement, filed with the SEC on October 30, 2020 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended.
Issuer Purchases of Equity Securities
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.