IPO News Archive
Fabless chip supplier InvenSense prices IPO at $7.50, within the $7-$8.50 range
InvenSense, a leading provider of motion sensor chips for Nintendo's Wii and other consumer electronics including smartphones and tablets, raised $75 million on Tuesday after the close by offering 10 million shares at $7.50 per share, within its revised range of $7.00 to $8.50. The company originally planned to sell 10.5 million shares at proposed range of $8.50-$10.50 in early August, but was forced to shelve its plans as a result of the intense market volatility. The Sunnyvale, CA based company was founded in 2003 and recorded $130 million in sales for the 12 months ended September 30, 2011. Its key shareholders include Artiman Ventures, Partech International, Seirra Ventures and QUALCOMM.
InvenSense will list on the NYSE under the symbol INVN. Goldman, Sachs & Co. and Morgan Stanley acted as lead managers on the deal. Oppenheimer & Co., Piper Jaffray, Baird and ThinkEquity served as co-managers.
, Semiconductors, Technology, Venture Backed