Everspin Closes IPO and Private Placement
And granted underwriters 30-day option to purchase up to additional 750,000 shares of common stock
This is a Press Release edited by StorageNewsletter.com on October 14, 2016 at 2:17 pmEverspin Technologies, Inc. announced the closing of its IPO of 5,000,000 shares of its common stock at a public offering price of $8.00 per share, for total gross proceeds of $40 million before the underwriting discount and commissions and other offering expenses.
All of the shares of common stock were offered by Everspin Technologies. The common stock is listed on The NASDAQ Global Market under the ticker symbol ‘MRAM.’
In addition, Everspin Technologies has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments at the IPO price, less the underwriting discount and commissions.
Separately, in a concurrent side-by-side private placement, GigaDevice Semiconductor (HK) Limited purchased 625,000 shares of common stock from Everspin at the public offering price of $8.00 per share, for total gross proceeds of $5 million before placement agent fees.
Stifel and Needham & Company acted as joint book-running managers for the public offering. Canaccord Genuity and Craig-Hallum Capital Group acted as co-managers.
Read also:
Everspin Announces Pricing of IPO on Nasdaq
$8.00 per share for total gross proceeds of $40 million
2016.10.10 | Press Release
Subscribe to our free daily newsletter
