Ambarella sets terms for $60 million IPO
Ambarella, a developer of semiconductor offerings for high
definition video capture and display, announced terms for its IPO
on Wednesday. The Santa Clara, CA-based company plans to raise
$60 million by offering 6.0 million shares (18% insider) at a
price range of $9 to $11. At the midpoint of the proposed range,
Ambarella would command a fully diluted market value of $278
Ambarella, which was founded in 2004 and booked $107 million in sales for the 12 months ended 7/31/2012, plans to list on the NASDAQ under the symbol AMBA. Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal.