MRAM Everspin Technologies Inc

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