SiTime Corp. (SITM), a Precision Timing company, announced Thursday that it has priced follow-on public offering of 1.75 million shares of its common stock at $200 per share to the public.
The offering is expected to close on June 27, subject to customary closing conditions.
The underwriters will have a 30-day option to purchase up to 262,500 additional shares at the public offering price.
The company expects gross proceeds to be $350 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding any exercise of the underwriters' option.
In the offering, UBS Investment Bank and Stifel are joint lead book-running managers, while Needham & Company and Goldman Sachs & Co. LLC are joint book-running managers.
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