Memory firm plans $57.5 million IPO
By Reuters
Special to CNET News.com
March 15, 2000, 1:40 p.m. PT
Simple Technology, whose memory products are found in portable digital devices such as digital cameras and MP3 audio players, filed
today to raise $57.5 million in an initial public offering.
The Santa Ana, Calif., company, whose customers include Motorola, Unisys and Xerox, plans to use the net proceeds for debt repayment
under a line of credit and repayment of undistributed earnings notes held by shareholders.
Simple also intends to use the proceeds for working capital and general corporate purposes, according to the
IPO filing with the Securities and Exchange Commission, which did not say how many shares are being offered
or their price range. That information is expected to come in future filings.
The company has applied to list the common shares on Nasdaq under the symbol "STEC." The underwriters
are Robertson Stephens, Banc of America Securities and Needham & Co.
+++
You see this company's CF cards being sold a lot by mail order here in the UK. I dont know if they are big elsewhere?
Incidentally, PCWorld (UK equivalent of CompUSA) had a large advert for a Casio digicam in the papers here a few days ago, along with pictures of all the add-ons it came with, including a Sandisk card. First time I've seen the Sandisk name and logo in a UK newspaper!
Joe |
