Spansion IPO nets $529 million
Spansion, a joint venture between AMD and Fujistu that produces Flash memory devices, said that it closed its initial public offering with proceeds having reached about $529 million. The company sold 47,264,000 shares of its Class A common stock at $12 per share, including 5,064,000 shares as over-allotment option.
Spansion is expected to uses significant portions of the funds to expand its Flash production capacities.
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