Adesto Technologies (IOTS) IPO Opens Higher

October 27, 2015 10:39 AM EDT

Today's IPO for Adesto Technologies Corporation (Nasdaq: IOTS) opened for trading at $5.60 after pricing 5,000,000 shares of its common stock at a public offering price of $5.00 per share.

All shares of common stock are being offered by the company. In addition, Adesto has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the same price to cover over-allotments, if any.

Needham & Company and Oppenheimer & Co. are acting as joint book-running managers for the offering. Roth Capital Partners is acting as co-manager for the offering.

Adesto Technologies is a leading provider of application-specific, feature-rich, ultra-low power non-volatile memory products.

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Needham & Company, Roth Capital, IPO