Adesto to price IPO of 4.1 million shares between $10.00 and $12.00

Bookrunners Needham and Oppenheimer and co-manager Roth Capital assist

By Devika Patel

Knoxville, Tenn., Oct. 5 – Adesto Technologies Corp. will sell 4.1 million common shares in its initial public offering with a 30-day greenshoe option of additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The company has registered up to $56.58 million of stock for the deal, which was announced on Sept. 14.

The shares will be sold at a price expected to fall between $10.00 and $12.00 per share.

Needham & Co. and Oppenheimer & Co. are the bookrunners; Roth Capital Partners is a co-manager.

Proceeds will be used for working capital and other general corporate purposes.

Adesto makes memory products for internet of Things (IoT) applications. The Sunnyvale, Calif., company has applied to list its shares on the Nasdaq under the symbol “IOTS.”

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