On November 9, 2021, SiTime Corporation, a leader in MEMS timing, 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. Wilson Sonsini Goodrich & Rosati is advising MegaChips Corporation in the transaction.

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 Wilson Sonsini Goodrich & Rosati team advising MegaChips Corporation in connection with the transaction includes senior and founding partner Larry Sonsini and corporate partners Doug Schnell and Erika Muhl.

For more information, please see SiTime’s press release.