SiTime Corporation Announces Completion of Follow-on Public Offering

Rhea-AI Summary

SiTime Corporation (Nasdaq: SITM) has successfully completed its follow-on public offering of 2,012,500 shares of common stock at $200.00 per share. The offering included the full exercise of the underwriters' option to purchase additional shares. After deducting underwriting discounts, commissions, and estimated offering expenses, SiTime raised net proceeds of approximately $387.4 million.

The offering was managed by multiple investment banks, with UBS Investment Bank and Stifel serving as joint lead book-running managers. Needham & Company and Goldman Sachs & Co. LLC acted as joint book-running managers, while Raymond James and Roth Capital Partners served as co-managers.

Positive

• Raised substantial capital of $387.4 million in net proceeds
• Strong market interest demonstrated by full exercise of underwriters' option
• Strengthened balance sheet for potential growth initiatives

Negative

• Potential dilution of existing shareholders' equity due to issuance of 2,012,500 new shares

Insights

Financial Analyst

SiTime raised $387.4M through a share offering, significantly strengthening its balance sheet while diluting existing shareholders by approximately 9%.

SiTime Corporation has successfully completed a substantial follow-on public offering, raising $387.4 million in net proceeds through the sale of 2,012,500 shares at $200 per share. This includes the full exercise of the underwriters' option to purchase additional shares, indicating strong demand for the offering.

To put this capital raise in context, this represents a significant financing event for SiTime. With the company trading at $200 per share and issuing over 2 million new shares, this offering implies a dilution of approximately 9% to existing shareholders, based on SiTime's typical outstanding share count of around 22-23 million shares.

The successful completion with full exercise of the underwriters' option suggests confidence in the precision timing company's prospects. The prestigious underwriting team led by UBS Investment Bank and Stifel, along with Needham & Company and Goldman Sachs, further validates the market's interest in SiTime's equity.

This substantial cash infusion significantly strengthens SiTime's balance sheet, potentially positioning the company for strategic initiatives such as R&D acceleration, manufacturing capacity expansion, or potential acquisitions in the precision timing space. While the press release doesn't specify the intended use of proceeds, this capital raise provides SiTime with considerable financial flexibility during a period when timing solutions are increasingly critical for advanced electronics, particularly in growing sectors like AI, automotive, and IoT applications.

SANTA CLARA, Calif., June 27, 2025 (GLOBE NEWSWIRE) -- SiTime Corporation (Nasdaq: SITM), the Precision Timing company, today announced the completion of its follow-on public offering of 2,012,500 shares of its common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $200.00 per share. After deducting underwriting discounts and commissions and estimated offering expenses payable by SiTime, the net proceeds to SiTime were approximately $387.4 million.

UBS Investment Bank and Stifel were joint lead book-running managers for the offering. Needham & Company and Goldman Sachs & Co. LLC were joint book-running managers for the offering. Raymond James and Roth Capital Partners were co-managers for the offering.

A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on February 26, 2024, and became effective upon filing. The offering was made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus may be obtained from: UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at ol-prospectus-request@ubs.com or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.

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.

About SiTime

SiTime Corporation is the Precision Timing company. Our semiconductor MEMS programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With more than 3.5 billion devices shipped, SiTime is changing the timing industry.

Investor Relations Contacts:

Shelton Group
Leanne Sievers | Brett Perry
sitm-ir@sheltongroup.com

SiTime Corporation
Beth Howe
Chief Financial Officer
investor.relations@sitime.com

FAQ

How much did SiTime (SITM) raise in its follow-on public offering?

SiTime raised net proceeds of approximately $387.4 million after deducting underwriting discounts, commissions, and estimated offering expenses.

What was the price per share for SiTime's (SITM) follow-on offering?

The follow-on offering was priced at $200.00 per share.

How many shares did SiTime (SITM) sell in its follow-on offering?

SiTime sold 2,012,500 shares of common stock, including the full exercise of the underwriters' option to purchase additional shares.

Who were the lead underwriters for SiTime's (SITM) follow-on offering?

UBS Investment Bank and Stifel served as joint lead book-running managers for the offering.

When did SiTime's (SITM) follow-on offering registration statement become effective?

The registration statement became effective upon filing with the SEC on February 26, 2024.