Anadigics (ANAD) -10.4% AH after announcing a public stock offering of undisclosed size. The RF...

|By:, SA News Editor

Anadigics (ANAD) -10.4% AH after announcing a public stock offering of undisclosed size. The RF component maker only says it will use the proceeds for "working capital and general corporate purposes." As of Dec. 28, Anadigics had $51.4M in cash/investments on its balance sheet, and no debt. However, the company has been steadily burning cash, and more losses are expected. (prospectus)