SiTime Corporation Announces Completion of Follow-on Public Offering
June 16 2020 - 4:10PM
SiTime Corporation (Nasdaq: SITM), a market leader in MEMS timing,
announced today the completion of its follow-on public offering of
4,025,000 shares of its common stock at a price to the public
of $32.00 per share, including the full exercise of the
underwriters’ option to purchase an additional 525,000 shares from
SiTime (the “Option Shares”). MegaChips Corporation sold 2,500,000
shares of common stock and SiTime issued and sold 1,525,000 shares
of common stock in the offering. After deducting underwriting
discounts and commissions and estimated offering expenses payable
by SiTime, the net proceeds to SiTime were
approximately $45,126,000. SiTime did not receive any proceeds
from the sale of shares of common stock by MegaChips Corporation.
Net proceeds to SiTime are expected to be used for repayment of
debt and general corporate purposes.
Barclays and Stifel acted as joint lead book-running managers
for the offering. Needham & Company, Raymond James, and Roth
Capital Partners acted as co-managers for the offering.
The offering was made only by means of a prospectus. Copies of
the final prospectus related to the offering may be obtained from:
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (888)
603-5847 or by email at Barclaysprospectus@broadridge.com; or
Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus
Department, One Montgomery Street, Suite 3700, San Francisco,
California 94104, or by telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. 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 SiTime
SiTime Corporation is a market leader in silicon MEMS timing.
Our programmable solutions offer a rich feature set that enables
customers to differentiate their products with higher performance,
smaller size, lower power, and better reliability. With over 1.5
billion devices shipped, SiTime is changing the timing
industry.
Investor
Relations Contacts:
Shelton Group Leanne Sievers | Brett Perry 949-224-3874 |
214-272-0070 sheltonir@sheltongroup.com
SiTime Corporation Art Chadwick Chief Financial Officer
investor.relations@sitime.com
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