SiTime Corporation (NASDAQ: SITM), a market leader in MEMS timing, has closed its initial public offering of 4,945,000 shares of its common stock, including 645,000 additional shares per the full exercise of the over-allotment option. According to the update, SiTime secured approximately $64.3 million in gross proceeds, with each of the shares sold at the public offering price of $13.00. ROTH Capital Partners acted as a co-manager for the offering.
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About SiTime
SiTime Corporation, a market leader in MEMS timing and a wholly-owned subsidiary of MegaChips Corporation, offers MEMS-based silicon timing system solutions. SiTime’s configurable solutions offer a rich feature set that enables customers to differentiate their products with high performance, small size, low power, and high reliability. With over 1.5 billion devices shipped to date, SiTime is changing the timing industry. For more information, visit the company’s website at www.SiTime.com.
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