Newport Beach-based chipmaker Conexant Systems Inc. announced that it has filed a universal shelf registration statement with the Securities and Exchange Commission (SEC) but is yet to become effective. The chipmaker is seeking the approval of the SEC to sell $20 million worth of its shares.

Once the shelf offering statement is approved by the SEC, Conexant will have the option to offer and sell, from time to time or whenever it wants, up to $20 million of its common stock, preferred stock, warrants, or any combination of such securities.

Conexant wants to use the net proceeds raised from the sale of stock and securities under the shelf registration statement for general corporate purposes, such as repaying, redeeming, or repurchasing existing debt, working capital, capital expenditures and acquisitions. The company’s shares closed down more than 2 percent on Monday on a market value of about $65 million. Conexant had about $110 million in cash at the end of the March quarter.

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