Everspin Prices IPO, Hits NASDAQ Today

Chandler, Arizona-based semiconductor memory developer Everspin priced its IPO last night, saying that it will offer up 5,000,000 shares of its common stock at $8.00 per share. The company started trading this morning on the NASDAQ Global Market as MRAM. The company priced well below its initial estimated IPO range, which had been between $11.00 and $13.00 per share. The IPO had been underwritten by Stifel, Needham & Company, Canaccord Genuity, and Craig-Hallum Capital Group. The company is venture backed by NV Partners, Sigma Partners, Lux Ventures, GLOBALFOUNDRIES, Freescale Semiconductor, EPIC Venture Fund, and Draper Fisher Jurvetson, among others.