SiTime Corp. (SITM) IPO Opens, Trades Higher

Today's IPO for SiTime Corporation (NASDAQ: SITM) opened for trading earlier at $16.90 after pricing 4,300,000 shares of its common stock at a price to the public of $13.00 per share. Shares have continued higher to $18.79.

SiTime has granted the underwriters a 30-day option to purchase up to 645,000 additional shares of common stock at the initial price to the public, less underwriting discounts and commissions.

Barclays and Stifel are joint lead book-running managers for the offering. Needham & Company, Raymond James, and Roth Capital Partners are co-managers for the offering.

SiTime Corporation, a market leader in MEMS timing and a wholly-owned subsidiary of MegaChips Corporation, offers MEMS-based silicon timing system solutions. SiTime’s configurable solutions offer a rich feature set that enables customers to differentiate their products with high performance, small size, low power, and high reliability. With over 1.5 billion devices shipped to date, SiTime is changing the timing industry.

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