Everspin Technologies, a provider of magnetic-based random access memory, announced terms for its IPO on Monday.
The Chandler, AZ-based company plans to raise $45 million by offering 3.8 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Everspin Technologies would command a fully diluted market value of $133 million.
Everspin Technologies was founded in 2008 and booked $27 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol MRAM. Stifel and Needham & Co. are the joint bookrunners on the deal. It is expected to price during the week of October 3, 2016.
