(RTTNews) - Microchip Technology Incorporated (MCHP), a provider of embedded control solutions, Friday priced its public offering $1.35 billion of depository shares at $50 per share. Each ...

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Microchip Technology shares fell in premarket trading Thursday after the company said it launched a public offering of $1.35 billion of depositary shares. Shares traded 6.1% lower at $51.25.

The FDIC — which is funded by premiums paid by banks and savings associations — protects up to $250,000 in individual deposit accounts and up to $250,000 for each person’s share of joint ...

Microchip expects to grant the underwriters of the offering a 13-day option to purchase up to an additional $135 million of depositary shares, solely to cover over-allotments, if any.