AMBIQ PRICES US$96 MLN IPO, SET TO DEBUT ON NYSE AS “AMBQ”

KUALA LUMPUR, July 30 (Bernama) -- Ambiq Micro Inc (Ambiq) has announced the pricing of its upsized initial public offering (IPO) at US$24 per share, raising US$96 million before expenses. (US$1=RM4.23)

According to a statement, the Austin-based company is offering four million shares, with a 30-day option for underwriters to purchase 600,000 more to cover over-allotments.

The shares are expected to begin trading on the New York Stock Exchange under the ticker “AMBQ” on July 30, with the offering expected to close the next day, pending customary approvals.

BofA Securities and UBS Investment Bank are leading the deal, joined by Needham & Company and Stifel as joint bookrunners.

A technology leader in ultra-low-power semiconductor solutions for edge artificial intelligence (AI), Ambiq enables its customers to deliver AI compute at the edge where power consumption challenges are the most severe.

-- BERNAMA