SAN JOSE -- LogicVision Inc.--a supplier of built-in-self-test (BIST) technology that promises to reduce the cost of chip-testing--here today announced that it commenced its initial public offering.
The company sold 4,500,000 shares of its common stock at a price of $9.00 per share, for a total of $40.5 million. The deal was managed by UBS Warburg LLC, SG Cowen Securities Corp. and Dain Rauscher Inc.
All of the shares were sold by the company. The company has granted the underwriters an option to purchase an additional 675,000 shares to cover over-allotments. LogicVision's stock will be traded on the Nasdaq National Market under the symbol "LGVN."