Arteris IP Prices IPO Of 5 Mln Shares At $14/shr

Arteris IP, a provider of on-chip interconnect fabric and IP-XACT-based IP deployment technologies provider, said it has priced its initial public offering of five million shares of its common stock at $14 per share.

The shares are expected to begin trading on the Nasdaq Global Market on October 27, under the ticker symbol 'AIP,' and the offering is expected to close on October 29.

The gross proceeds from the offering are expected to be at $70 million. All of the shares are being offered by Arteris IP. In addition, the California-headquartered firm has granted the underwriters a 30-day option to purchase up to 0.75 million additional shares of its common stock at the IPO price.

Jefferies LLC and Cowen are serving as lead book-runners and BMO Capital Markets is serving as joint book-running manager for the offering, whereas Northland Capital Markets and Rosenblatt Securities are acting as co-managers for the offering.

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