SiTime, a fabless provider of silicon timing systems, announced terms for its IPO on Thursday.
The Santa Clara, CA-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, SiTime would command a market value of $200 million and an enterprise value of $184 million.
SiTime was founded in 2003 and booked $79 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol SITM. Barclays and Stifel are the joint bookrunners on the deal. It is expected to price Wednesday, November 20, 2019.
