Shareholders in the semiconductor memory technology provider include Western Digital and GlobalFoundries, while GigaDevice Semiconductor is investing $5m.
Everspin Technologies, a US-based memory technology producer backed by corporates Western Digital and GlobalFoundries, will raise $40m when it floats on Nasdaq today, issuing 5 million shares priced at $8.00 each.
Spun out of semiconductor producer Freescale in 2008, Everspin provides magnetoresistive random access memory (MRAM) technology that stores data in a magnetic state, as opposed to the electrical charge state utilised in traditional semiconductor memory.
The company has raised more than $78m in venture capital, its most recent…
