SiTime Corporation Announces IPO Completion
SiTime has announced the completion of its previously announced initial public offering (“IPO”) of 4,945,000 shares of its common stock at a price to the public of $13.00 per share, including the full exercise of the underwriters’ over-allotment option to purchase an additional 645,000 shares. The shares began trading on The Nasdaq Global Market on November 21, 2019 under the ticker symbol “SITM.”
After deducting underwriting discounts and commissions and estimated offering expenses payable by SiTime, the net proceeds to SiTime were approximately $57.1 million. 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.
