Skip to main content

Market Overview

Apple Supplier SiTime Raises $190.5M At 9.5% Discount

Share:
  • SiTime Corporation (NASDAQ: SITMpriced 3 million shares at $127 per share, including 1.5 million shares from selling shareholder MegaChips Corporation (OTC: MEGPF) to raise $190.5 million in a secondary offering.
  • The underwriters have a 30-day option to procure up to 0.45 million additional shares.
  • The offer price signifies a 9.5% discount to the Wednesday closing price and is estimated to close by February 22, 2021.
  • Barclays, Credit Suisse, and Stifel are the joint lead book-running managers for the offering.
  • It is worth noting that Apple Inc (NASDAQ: AAPL) accounted for 40% of the company's revenue for FY20.
  • SiTime's closing cash stood at $73.5 million at the end of last quarter. Its share price has gained 401% in last year.
  • Price action: SITM shares are down 0.27% at $139.90 in the pre-market session on the last check Thursday.
 

Related Articles (MEGPF + SITM)

View Comments and Join the Discussion!

Posted-In: semiconductorsNews Offerings Small Cap Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com