Saifun Semiconductors (SFUN)

[midastouch017]

Saifun raises $133m on Wall St.
The public offering was made at a price per share of $30.25. Saifun Semiconductors' proceeds from the offering will be $11.6 million.

Idan Rabi 6 Apr 06 11:26

Saifun Semiconductors Ltd. (Nasdaq:SFUN) today announced the closing of its public offering at a price per share of $30.25. In total, Saifun raised $133 million.
Of the 4,393,170 shares sold in the offering, 4,053,170 were sold by selling shareholders, including 573,022 in a green shoe offering after the underwriters exercised in full their option to purchase additional shares from the selling shareholders.

In addition, 340,000 ordinary shares were sold by the company.

Saifun stated that it expects to receive net proceeds from the offering of approximately $9.4 million and $2.2 million from the exercise of options by certain of the selling shareholders. In all, Saifun's proceeds will be $11.6 million.

Lehman Brothers acted as sole book-running manager, Citigroup and Deutsche Bank Securities acted as joint lead managers and CIBC World Markets, William Blair & Company, Raymond James and WR Hambrecht + Co acted as co-managers.

Published by Globes [online], Israel business news - www.globes.co.il - on April 6, 2006

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