Friday, December 16, 2005
Spansion LLC, a flash memory supplier, has reduced the estimated price of its initial public offering shares of common stock by $2-$5 each, according to a regulatory filing.
Spansion said it now expects the IPO price of its Class A common stock to be between $13 and $14 per share.
Spansion now estimates it will receive $493 million in net proceeds from the sale of common stock. Earlier, Spansion had reportedly been expecting to receive $561 million.
Spansion expects to incur an operating loss for its fiscal fourth quarter. The company has already lost more than $257 million in 2005, after losing $20 million in 2004.
By: DocMemory
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