Bookrunners Needham and Oppenheimer and co-manager Roth Capital assist
By Devika Patel
Knoxville, Tenn., Oct. 26 – Adesto Technologies Corp. said it priced its $25 million initial public sale of stock with a $3.75 million greenshoe. The deal was announced Sept. 14.
The company will sell 5 million common shares at $5.00 apiece.
Needham & Co. and Oppenheimer & Co. are the bookrunners.
Proceeds will be used for working capital and other general corporate purposes.
Adesto makes memory products for internet of things (IoT) applications. The Sunnyvale, Calif., company has applied to list its shares on the Nasdaq under the symbol “IOTS.”
| Issuer: | Adesto Technologies Corp.
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| Issue: | Common stock
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| Amount: | $25 million
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| Greenshoe: | $3.75 million, or 750,000 shares
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| Shares: | 5 million
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| Price: | $5.00
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| Warrants: | No
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| Bookrunners: | Needham & Co. and Oppenheimer & Co.
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| Co-manager: | Roth Capital Partners
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| Announcement date: | Sept. 14
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| Pricing date: | Oct. 26
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| Stock symbol: | Nasdaq: IOTS
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