GSIT IPO - GSI Technology, Inc. Announces Its Initial Public Offering
GSI Technology, Inc. (NASDAQ:GSIT) today announced the initial public offering of 6,131,111 shares of newly issued common stock at a price of $5.50 per share. The shares will begin trading today on the Nasdaq Global Market under the symbol GSIT.
The underwriters have been granted an option to purchase up to 919,667 additional shares of common stock from selling stockholders to cover over-allotments, if any.
Needham & Company, LLC and W.R. Hambrecht + Co., LLC acted as joint book-running managers, with Robert W. Baird & Co. and Stanford Group Company acting as co-managers.
The registration statement relating to the initial public offering of these common shares was declared effective by the Securities and Exchange Commission on March 29, 2007. This press release does not constitute an offer to sell or the solicitation of an offer to buy. A copy of the final prospectus relating to the offering may be obtained from the prospectus department of Needham & Company, LLC at 445 Park Avenue, New York, NY 10022, by telephone at 212-705-0345, or by faxing a request to 212-705-0416; or from WR Hambrecht + Co at 555 Lancaster Avenue, Suite 200, Berwyn, PA 19312, by telephone at 877-828-5200, or by faxing a request to 610-725-1167.
About GSI Technology
Founded in 1995, GSI Technology, Inc. is a leading provider of high-performance static random access memory, or SRAM, products primarily incorporated in networking and telecommunications equipment. Headquartered in Santa Clara, California, GSI Technology is ISO 9001 certified and has worldwide factory and sales locations. For more information, please visit www.gsitechnology.com.
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
512-346-7180
or
Silverman Heller Associates
Philip Bourdillon/Gene Heller, 310-208-2550
Source: Business Wire (March 29, 2007 - 11:33 AM EDT)
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