Everspin Technologies Announces Pricing of its Underwritten Public Offering
February 08 2018 - 9:00AM
Everspin Technologies, Inc. (NASDAQ:MRAM), today announced the
pricing of its previously announced underwritten public offering of
3,600,000 shares of its common stock at a public offering price of
$7.00 per share, before underwriting discounts and commissions. All
of the shares of common stock are being offered by Everspin. In
addition, Everspin has granted the underwriters a 30-day option to
purchase up to an additional 540,000 shares of common stock at the
public offering price less underwriting discounts and commissions.
The offering is expected to close on or about February 12, 2018,
subject to the satisfaction of customary closing conditions.
Stifel is acting as the book-running manager for the offering.
Needham & Company is acting as lead manager and Craig-Hallum
Capital Group is acting as co-manager for the offering.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
on November 13, 2017.
The securities described above are being offered by Everspin
pursuant to a shelf registration statement previously filed with
and declared effective by the Securities and Exchange Commission
(the “SEC”). A preliminary prospectus supplement and the
accompanying prospectus related to the offering have been filed
with the SEC and are available on the SEC’s website, located at
www.sec.gov. A copy of the final prospectus supplement relating to
these securities may be obtained, when available, by contacting
Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus
Department, One Montgomery Street, Suite 3700, San Francisco, CA
94104, or by telephone (415) 364-2720, or by email
syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc.
is the worldwide leader in designing, manufacturing, and
commercially shipping discrete and embedded MRAM into markets and
applications where data persistence, performance, and endurance are
paramount.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements relating to Everspin’s expectations regarding the
completion of the public offering. These statements are subject to
significant risks and uncertainties and actual results could differ
materially from those projected. Everspin cautions investors not to
place undue reliance on the forward-looking statements contained in
this release. These risks and uncertainties include, without
limitation, risks and uncertainties related to the satisfaction of
customary closing conditions related to the public offering. There
can be no assurance that Everspin will be able to complete the
public offering on the anticipated terms, or at all. Risks and
uncertainties relating to Everspin and its business can be found in
the “Risk Factors” section of Everspin’s Form 10-K for the year
ended December 31, 2016, filed with the SEC on March 29, 2017, and
Form 10-Q for the quarter ended September 30, 2017, filed with the
SEC on November 13, 2017, and in the preliminary prospectus related
to the offering filed with the SEC on February 7, 2018. Everspin
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or changes in Everspin’s
expectations.
Everspin Investor Relations Contact:Leanne K.
Sievers PresidentShelton Group Investor RelationsT:
949-224-3874E: sheltonir@sheltongroup.com
Everspin Public Relations Contact:Michael
SchoolnikStory Public RelationsT:
415-674-3816E: Michael@storypr.com
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