Everspin Announces Pricing of IPO on Nasdaq$8.00 per share for total gross proceeds of $40 million
This is a Press Release edited by StorageNewsletter.com on 2016.10.10
Everspin Technologies, Inc. announced the pricing 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 are being offered.
The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol MRAM on October 7, 2016.
In addition, Everspin 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 initial public offering price, less the underwriting discount and commissions. The offering is expected to close on or about October 13, 2016, subject to customary closing conditions.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on October 7, 2016.