Monday, July 11, 2016
Impinj, With Offices In OC, Sets IPO Pricing Range
Impinj, a developer of RFID technology which has engineering offices in both Rancho Cordova and Newport Beach, has set the estimated IPO pricing range for its stock at between $12.00 and $14.00 per share, the company said in a filing this morning. Impinj is selling 4,600,000 shares of its common stock on the NASDAQ Global Select Market as "PI", is venture backed by ARCH Venture Partners, Polaris Partners, Madrona Venture Group, Mobius Venture Capital, Intel, GF Private Equity, and AllianceBernstein. The company's IPO is being underwritten by RBC Capital Markets, Pacific Crest Securities, Piper Jaffray, Needham & Company, and Canaccord Genuity. Impinj's headquarters were originally split between Newport Beach and Seattle, with half of its founding team in Orange County, with technology originally developed at Caltech.