Tuesday, October 25, 2005

MathStar Set for IPO

MathStar, which develops a new class of chips it calls field programmable object arrays (FPOAs), announced that its initial public offering of 4,000,000 shares of common stock was priced at $6.00 per share.

The shares will be quoted on The Nasdaq National Market under the symbol "MATH."

Net proceeds from the offering are expected to be approximately $21.1 million and $24.4 million if the underwriters exercise their over-allotment option in full, after deducting the underwriting discounts and commissions, the non-accountable expense allowance and the estimated offering expenses.

  • MathStar's Field Programmable Object Array (FPOA) are designed for use in networking and digital signal processing applications. The company said its FPOAs provide a strategic alternative to the high-cost of developing ASICs or the performance limitations of conventional FPGA architectures.

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