Audience, Inc. IPO Info
Stock Symbol: ADNC
Exchange: NASDAQ
Status: Priced
IPO Date: 5/10/2012
IPO Price: 17.00 (-39.00%)
Underwriters
J.P. Morgan, Credit Suisse, Deutsche Bank Securities, Pacific Crest SecuritiesAmount of Offering: 90,000,000
Number of Shares Offered: 5.27 Mil
Shares Outstanding After Offering: 19.394 Mil
Valuation: 330,000,000.00
Company Description
Audience is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.The company's processors had been incorporated in over 60 mobile device models that have reached commercial production, including those sold by leading OEMs, such as Apple Inc. (Apple) through its contract manufacturers (CMs), HTC Corporation (HTC), LG Electronics Inc. (LG), Pantech Corporation, Ltd. (Pantech), Samsung Electronics Co., Ltd. (Samsung), Sharp Corporation (Sharp) and Sony Corporation (Sony).
Commencing in the three months ended December 31, 2011, Apple (Nasdaq: AAPL) has integrated our processor IP in certain of its mobile phones. Pursuant to our agreement, this OEM will pay us a royalty, on a quarterly basis, for the use of our processor IP for all mobile phones in which it is used... . Foxconn, one of Apple�s CMs, accounted for 81% and 70% of our total revenue in 2010 and the nine months ended September 30, 2011, respectively.
