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Everspin registers $45 million of its stock for initial public sale
Stifel, Nicolaus, Needham, Canaccord Genuity and Craig-Hallum assist
By Devika Patel
Knoxville, Tenn., Sept. 9 – Everspin Technologies, Inc. will price an initial public offering of common stock with a 30-day greenshoe, according to a form S-1 filed Friday with the Securities and Exchange Commission. The company has registered up to $45 million of stock for the deal.
Stifel, Nicolaus & Co. Inc. and Needham & Co. are the bookrunners, and Canaccord Genuity Corp. and Craig-Hallum Capital Group are the co-managers.
Proceeds will be used for working capital and other general corporate purposes.
The Chandler, Ariz., company offers magnetoresistive random access memory technology. It intends to list its common stock on the Nasdaq under the symbol “MRAM.”
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