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Everspin Closes IPO

Chandler, Arizona-based Everspin Technologies said Thursday that it has closed its initial public offering, raising total gross proceeds of $40M before underwriting discount and commissions and other offering expenses. The company sold 5,000,000 shares of its common stock at a public offering price of $8.00 per share. The company had its IPO on October 7th. The company now trades on the NASDAQ Global Market as MRAM. Everspin is a developer of semiconductor memory technology.