GigOptix Announces Exercise of Over-Allotment Option for Recent Public Offering

Brings Total Funds Raised to $4.83 Million

PALO ALTO, Calif.--(BUSINESS WIRE)-- GigOptix (OTCBB:GGOX), a leading supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G optical networks, today announced that Roth Capital Partners, the sole manager of its recent public offering of common stock, has fully exercised its over-allotment and purchased 300,000 additional shares at a price of $1.75 per share.

The over-allotment option was granted in conjunction with GigOptix’ public offering of 2,460,000 shares completed on July 8, 2010. Including the exercise of the over-allotment option, a total of 2,760,000 shares were sold in the offering with gross proceeds to GigOptix of approximately $4.83 million. Gross proceeds do not include estimated total expenses of this offering, including the underwriters’ discount and non-accountable expense reimbursement, which are estimated to be approximately $1 million. The Company plans to use the proceeds for working capital, strategic growth and other general corporate purposes.

A registration statement relating to the offering of GigOptix’ common shares was made on Form S-1 and declared effective by the Securities and Exchange Commission on July 1, 2010. A copy of the final prospectus can be obtained by contacting Roth Capital Partners, LLC, Attention: Prospectus Department, 24 Corporate Plaza Drive, Newport Beach, CA 92660, 800-678-9147.

About GigOptix, Inc.

GigOptix is a leading supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G fiber-optic telecommunications and data-communications networks. The Company offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and receiver amplifiers for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 10G to 100G. GigOptix also offers the widest range of mixed-signal and RF ASIC solutions in the market including Standard Cell, Hybrid and Structured ASICs targeting the Consumer, Industrial, Defense & Avionics industries. For more information, please visit www.GigOptix.com.

Forward Looking Statements

Statements made in this release, other than statements of historical fact, are forward-looking statements, including any statement that refers to expectations, projections or other characterizations of future events or circumstances and those which can be identified by the use of forward-looking terminology such as “expects,” “plans,” “may,” “should,” “believes” or “anticipates” and other similar expressions. Forward-looking statements are subject to a number of known and unknown risks, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include those risks described in GigOptix’ periodic reports filed with the SEC, and in news releases and other communications. GigOptix disclaims any intention or duty to update any forward-looking statements made in this release.

CONTACT:

Media Contact:
GigOptix, Inc.
Padraig O’Mathuna, VP of Marketing, 650-424-1937
pomathuna@gigoptix.com
or
Investor Contact:
Shelton Group Investor Relations
Leanne Sievers, EVP, 949-224-3874
lsievers@sheltongroup.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:   Technology  Hardware  Networks  Telecommunications

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