Impinj outlines details of IPO as shares soar
Impinj has provided details on the pricing of its initial public offering (IPO). The company is a provider of solutions for identifying, locating and authenticating everyday items using RAIN RFID. A month ago, the company had filed a registration statement with the U.S. Securities and Exchange Commission for the proposed initial public offering of its common stock.
The IPO concerns 4,800,000 shares of common stock at a price to the public of $14.00 per share. Additionally, Impinj has provided the underwriters with a 30-day option to buy up to an additional 720,000 shares of common stock.
Impinj traded on the NASDAQ Global Select Market under the symbol “PI” on July 21. The offering is expected to close on July 26, 2016, subject to customary closing conditions. At the time of publication it was priced at $20.85, up 6.59% having previously closed at $19.56.
RBC Capital Markets, Pacific Crest Securities, a division of KeyBanc Capital Markets, and Piper Jaffray are acting as joint book-running managers for the offering. Needham & Company is acting as lead manager and Canaccord Genuity is acting as co-manager.
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.
- » Wireless Broadband Alliance completes WiFi 6 trial in IIoT scenario
- » Telit adds new NB-IoT modules to its portfolio
- » Telefónica presents second ‘Things Matter’ study, indicates significant increase in IoT usage in two years
- » KT to run 5G-based autonomous shuttle bus to prove commercial potential
- » Going smart: How IoT technologies and automation can revolutionise laboratory practice