SanDisk Corporation Commences Public Offering for 3,000,000 Shares of
Common Stock
Wednesday November 19, 7:59 am Eastern Time
Company Press Release
SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 19, 1997--SanDisk Corp. (NASDAQ:SNDK - news) announced today
that it commenced its public offering of 3,000,000 shares of its common stock at a price of $28.00 per share, which will result
in net proceeds to the company of approximately $79.4 million.
All of the shares are being sold by the company. The shares are being offered by an underwriting group managed by Morgan
Stanley Dean Witter, Goldman, Sachs & Co., and BancAmerica Robertson Stephens. The underwriters have been granted an
option to purchase 450,000 shares to cover over-allotments, if any.
SanDisk intends to use the funds from the offering for general corporate purposes, including working capital, product
development and capital expenditures. A portion of the net proceeds may also be used to procure additional wafer supply
arrangements with foundry partners, to acquire or invest in complementary businesses or products or to obtain the right to use
complementary technologies.
SanDisk Corp. designs, develops and markets flash memory data storage products used in a wide variety of electronic
systems. The company has optimized its flash memory storage solution, known as ''system flash,'' to address the needs of
many emerging applications in the consumer electronics and industrial/communications markets.
SanDisk's products include removable CompactFlash products and FlashDisk cards, and embedded FlashDrives and Flash
ChipSet products.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the offered shares, nor shall there be any
sale of the offered shares in any State in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such State. A copy of the prospectus relating to the offering may be obtained from
Morgan Stanley Dean Witter, 1585 Broadway, New York, NY 10036; Goldman, Sachs & Co., One New York Plaza, New
York, NY 10004; and BancAmerica Robertson Stephens, 555 California Street, San Francisco, CA 94104.
Contact:
SanDisk Corp.
Cindy Burgdorf, 408/542-0577
More Quotes and News:
Sandisk Corp (Nasdaq:SNDK - news)
Related News Categories: computer hardware, computers
Help
Copyright c 1997 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms
of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of
these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a
computer network or in a printed form.
Important Disclaimers and Legal Information
Questions or Comments? |
