SiTime Corp. (SITM) Prices 2M Share Follow-on Offering at $225/sh

SiTime Corporation (Nasdaq: SITM), a leader in MEMS timing, today announced the pricing of its follow-on public offering of 2,000,000 shares of its common stock at a price to the public of $225.00 per share, including 1,000,000 shares of common stock to be sold by MegaChips Corporation and 1,000,000 shares of common stock to be issued and sold by SiTime. SiTime will not receive any proceeds from the sale of shares of common stock by MegaChips Corporation. The gross proceeds of the offering to SiTime, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $225.0 million, excluding any exercise of the underwriters’ option. The offering is expected to close on November 12, 2021, subject to customary closing conditions.

SiTime has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of common stock from SiTime at the public offering price, less underwriting discounts and commissions.

Barclays, Credit Suisse, and Stifel are joint lead book-running managers for the offering. Needham & Company, Raymond James, Roth Capital Partners, and William Blair & Company are co-managers for the offering.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on February 16, 2021, and became effective upon filing. SiTime has also filed a preliminary prospectus supplement for the offering. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A copy of the final prospectus supplement, when available, may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847 or by email at [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at 1-800-221-1037 or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at (415) 364-2720 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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