Finance History | Nasdaq MarketSite — Eight Fifty for Five and a Half Million Power Shares
· 2004-11
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Finance History | Nasdaq MarketSite — Eight Fifty for Five and a Half Million Power Shares
kevin
People treat Monolithic Power as a Kirkland analog house that always printed MPWR after a finished Nasdaq book.
The November 2004 issuer was Monolithic Power Systems, Inc., then based in Los Gatos, California.
A MarketWatch report dated 18 November 2004, citing Dealogic, records that the firm priced 5.5 million common shares at 8.50 U.S. dollars a share in 2004 dollars, raising 46.8 million U.S. dollars in 2004 dollars.
The same account states that Goldman Sachs and Merrill Lynch led the underwriting and that trading was due to open on Nasdaq the next session.
The S-1/A filed 15 November 2004 had already applied for Nasdaq National Market quotation under MPWR and split the book as 4.0 million new shares from the company and 1.5 million from selling stockholders.
A later 10-K note records that the company itself received 28.7 million U.S. dollars in 2004 dollars, net of fees, from the 4.0 million primary shares, and that the underwriters later took 785,825 more shares on the overallotment.
The mechanism is a cash initial public offering that put a fabless analog-and-mixed-signal book onto the Nasdaq tape under four letters.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed MPWR.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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