Publicly traded IT companies in the US, Canada and Bermuda brought in $1.91 billion through capital offerings in April, S&P Global Market Intelligence data show.

The figure is the sector's lowest year to date and represents a sequential drop from $4.51 billion in March. The April total compared to October 2022 levels, when IT companies raised $1.77 billion.

Debt offerings comprised the biggest chunk of infotech capital activity in April at $1.81 billion, while common equity offerings totaled $97.6 million.

Micron Technology Inc. led the sector's capital activity with its two concurrent senior debt offerings on April 5, worth $900.0 million and $600.0 million, respectively. The US chipmaker intends to use the offerings' proceeds to repay debt, as well as for working capital and other general corporate purposes.

The debt offerings came days after Chinese regulators began probing Micron's products over alleged cybersecurity risks. The investigation led to a sales ban on Micron's goods in China, which the US government has opposed.

– Read through a preview of the US infotech sector's M&A activity in April. – Know more about April's biggest European infotech M&A deal. – Visit our Transactions Statistics page to run a custom screen of capital offerings by industry or geography.

The third-biggest infotech offering in April was Jabil Inc.'s $300.0 million senior debt offering, completed on April 10. The electronics manufacturing company plans to spend the offering's proceeds on debt repayment and other general corporate purposes.

The list of biggest infotech capital offerings in the year to date has so far remained the same, dominated by multiple offerings from Intel Corp., Oracle Corp. and International Business Machines Corp. with gross amounts between $1.09 billion and $2.25 billion.

Semiconductor companies continued to be the most active infotech subsector in terms of capital activity, raising $16.71 billion. IT consulting and other services companies remained second in rank with $10.23 billion, while systems software companies notched $5.26 billion to place third.