Jun 27, 2007
June 27, 2007, Shanghai, China - Spreadtrum Communications, Inc. (Nasdaq: SPRD) today announced the pricing of its initial public offering of 8,992,700 American Depositary Shares, or ADSs, at a price to the public of $14.00 per ADS. Spreadtrum is offering 8,000,000 ADSs and certain existing shareholders are offering 992,700 ADSs. Each ADS represents three ordinary shares. Spreadtrum's ADSs will trade on the Nasdaq Global Market under the symbol "SPRD" and will begin trading Wednesday, June 27, 2007. Total net proceeds to Spreadtrum will be approximately $100.3 million, after deducting underwriting discounts and commissions and estimated offering expenses.
The selling shareholders have granted a 30-day option to the underwriters to purchase up to an additional 1,330,900 ADSs to cover over-allotments, if any.
Morgan Stanley & Co. International plc and Lehman Brothers Inc. acted as joint book-running managers for the offering, with Needham & Company, LLC and Piper Jaffray & Co. serving as co-managers.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities of Spreadtrum, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the prospectus relating to this offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014; Attention: Prospectus Department or by email at firstname.lastname@example.org., or by contacting Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717, by e-mail at Qiana.Smith@Broadridge.com or by fax at 1-631-254-7140.
Spreadtrum is a fabless semiconductor company that designs, develops and markets baseband processor solutions for the wireless communications market. Spreadtrum combines its semiconductor expertise with its software development capabilities to deliver highly-integrated baseband processors with multimedia functionality and power management.