Everspin Technologies (MRAM) Announces October 7th IPO

Everspin Technologies (MRAM) expects to raise $46 million in an initial public offering on Friday, October 7th. The company will be issuing 3,800,000 shares at a price of $11.00-$13.00 per share.

In the last 12 months, Everspin Technologies generated $26.8 million in revenue and had a net loss of $20.7 million.

Stifel and Needham & Company acted as the underwriters for the IPO and Canaccord Genuity and Craig-Hallum Capital Group were co-managers.

Everspin Technologies provided the following description of their company for its IPO: “We are the leading provider of MRAM solutions. Our MRAM solutions offer the persistence of non-volatile memory with the speed and endurance of random access memory (RAM) and enable the protection of mission critical data particularly in the event of power interruption or failure. Our MRAM solutions allow our customers in the industrial, automotive and transportation, and enterprise storage markets to design high performance, power efficient and reliable systems without the need for bulky batteries or capacitors. We are the only provider of commercially available MRAM solutions, and over the past eight years we have shipped over 60¬†million MRAM units. “.

Everspin Technologies was founded in 2008 and has 86 employees. The company is located at 1347 N. Alma School Road, Suite 220, Chandler, AZ 85224, US and can be reached via phone at (480) 347-1111 or on the web at https://www.Everspin.com.

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