SMART Global Holdings, which is a leading Brazilian manufacturer of memory chips for smartphones and computers, announced terms for its IPO on Thursday.
The Newark, CA-based company plans to raise $74 million by offering 5.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, SMART Global Holdings would command a fully diluted market value of $302 million.
SMART Global Holdings was founded in 1988 and booked $627 million in sales for the 12 months ended February 28, 2017. It plans to list on the Nasdaq under the symbol SGH. Barclays, Deutsche Bank, Jefferies and Stifel are the joint bookrunners on the deal. It is expected to price during the week of May 22, 2017.
