OCZ Announces Upsizing and Pricing of Common Stock Offering

OCZ Technology Group, Inc. announced the upsizing and pricing of a common stock offering of 12,000,000 primary shares at a price of $9.00 per share, reflecting an upsize from the previously announced offering of 10,000,000 primary shares.

The company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock to cover overallotments of shares, if any.

OCZ will receive approximately $101 million in net proceeds from the offering, or approximately $116 million if the underwriters exercise their overallotment option in full, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, including the repayment of outstanding borrowings under its agreement with Silicon Valley Bank for asset-based financing.

Credit Suisse Securities (USA) LLC and Stifel Nicolaus Weisel are joint book-running managers for the offering. Piper Jaffray & Co. and Needham & Company, LLC are co-managers for the offering.

A shelf registration statement relating to the offering of the common stock was filed with the U.S. SEC on December 1, 2011 and has become effective.