Incitia Ventures, Proventure and company founders have sold their stakes in Arctic Silicon Devices AS (ASD) to Hittite Microwave Corporation for approximately $12m.
Sale process saw EBITDA adjustments due to the hygiene product company's increased revenues
Company has raised more than €50m in funding so far.
Holdco plans to file a proposed public buyout offer with French regulator AMF at €90 per share
Submission proposes a bridge funding facility in the form of a convertible loan of up to £5m per company