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Monolithic IPO nets $50M
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June 27, 2001: 5:18 p.m. ET
Chip developer sells 5M shares at $10 each via A.G. Edwards and Needham
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NEW YORK (CNNfn) - Monolithic Systems Technology, a chip developer, raised $50 million Wednesday ahead of its initial public offering.
Monolithic sold 5 million shares at $10 each, within it $9-to-$11 range, via A.G. Edwards & Sons Inc. and Needham & Co. Inc.
Sunnyvale, Calif.-based Monolithic has developed patented chip memory technology that it calls 1T-SRAM, which combines high density and high speed with low power consumption and low cost. Until 1998, the company focused on selling memory chips, but now licenses its technology to customers.
Monolithic will trade Thursday under the Nasdaq symbol "MOSY." 
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