Inphi Backers To Sell More Shares

The venture capital backers of semiconductor maker Inphi Corp., based on Santa Clara but with major operations in Westlake Village, are looking to cash out more shares, according to a filing by the firm this morning. According to Inphi Corp., it has a new, follow-on offering from the firm which looks to sell 5,500,000 shares of its common stock. About 5.4 million shares of those are from its existing shareholders, which include Walden International, Tallwood, and Mayfield Fund. The follow-on offering comes about 4 months after its IPO. Inphi IPO'd on the NYSE as IPHI in November. The firm is now trading around $25.49 per share, more than double its $12.00 per share IPO debut.