News Article
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.
