SunEdison Semiconductor sets terms for $101 million IPO
SunEdison Semiconductor, which manufactures and sells silicon wafers used in semiconductors, announced terms for its IPO on Monday. The St. Peters, MO-based company plans to raise $101 million by offering 7.2 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would command a fully diluted market value of $631 million.
SunEdison Semiconductor, which was founded in 1959 and booked $894 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol SEMI. Deutsche Bank, Goldman Sachs and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price next week.
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