CHANDLER, Ariz., Feb. 07, 2018 (GLOBE NEWSWIRE) -- Everspin Technologies, Inc. (NASDAQ:MRAM), today announced that it plans to offer shares of its common stock in an underwritten public offering. All of the shares of common stock are being offered by Everspin. In addition, Everspin intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock in connection with the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Stifel is acting as the book-running manager for the offering.
The securities described above are being offered by Everspin pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone (415) 364-2720, or by email firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Everspin Technologies
Headquartered in Chandler, Arizona, Everspin Technologies, Inc. is the worldwide leader in designing, manufacturing, and commercially shipping discrete and embedded MRAM into markets and applications where data persistence, performance, and endurance are paramount.
This announcement contains forward-looking statements, including statements relating to Everspin’s expectations regarding the completion of the proposed public offering. These statements are subject to significant risks and uncertainties, actual results could differ materially from those projected and Everspin cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Everspin will be able to complete the public offering. Risks and uncertainties relating to Everspin and its business can be found in the “Risk Factors” section of Everspin’s Form 10-K for the year ended December 31, 2016, filed with the SEC on March 29, 2017, and Form 10-Q for the quarter ended September 30, 2017, filed with the SEC on November 13, 2017, and in the preliminary prospectus supplement related to the proposed offering to be filed with the SEC on or about February 7, 2018. Everspin undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Everspin’s expectations.
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Everspin Technologies, Inc.