CHANDLER, Ariz.–(BUSINESS WIRE)–October 7, 2016–Everspin Technologies, Inc. today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $8.00 per share, for total gross proceeds of $40 million before the underwriting discount and commissions and other offering expenses. All of the shares of common stock are being offered by Everspin Technologies. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol “MRAM” on October 7, 2016. In addition, Everspin Technologies has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount and commissions. The offering is expected to close on or about October 13, 2016, subject to customary closing conditions.

Stifel and Needham & Company are acting as joint book-running managers for the offering. Canaccord Genuity and Craig-Hallum Capital Group are acting as co-managers.

About Everspin Technologies

Everspin Technologies is a provider of MRAM solutions.