Altera Corporation's parent company has confidentially submitted a draft IPO registration statement, signaling plans to take the programmable-semiconductor unit public.

Altera Corporation announced that its parent company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed public offering of common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed public offering remains subject to completion of the SEC review process, as well as market and other conditions.

This announcement is issued pursuant to Rule 135 under the Securities Act of 1933, as amended, and does not constitute an offer to sell or a solicitation to buy any securities. Any offers, solicitations, or sales will be made in accordance with the registration requirements of the Securities Act.

Altera provides high-performance, programmable compute and connectivity solutions for advanced and AI-enabled systems. The company is the largest pure-play FPGA provider, with a portfolio serving applications ranging from data centers and communications networks to critical embedded systems.