Ambiq files for IPO to power more edge AI devices

Ultra-low power semiconductor-maker Ambiq Micro has filed for an initial public offering of 3.4 million shares of its common stock to fund an expansion to put its chips into more electronic devices for on-device AI capabilities.

The company plans to offer the shares at $22 to $25 per share and raise up to $85 million on the New York Stock Exchange under the ticker symbol “AMBQ,” according to an SEC filing.

Ambiq specializes in high-efficiency microprocessors made with Subthreshold Power Optimized Technology (SPOT) for edge AI applications. The company launched the Voice-on-SPOT tool to help manufacturers integrate voice biometrics into IoT devices in 2021. The company’s MCU has also been used in biometric smart cards for logical and physical access control.

The main underwriters for the proposed offering are BofA Securities and UBS Investment Bank, accompanied by Needham & Company and Stifel. They get a 30-day option to purchase up to 510,000 additional shares.

The proposed IPO valuates Ambiq at $426 million, plus employee compensation. Bloomberg calculates its totally fully diluted market value at $491 million. Ambiq raised $94.6 million in a September, 2023 funding round at a valuation of $450 million.

Ambiq reports $15.7 million in revenue in the first quarter of fiscal 2025, and a net loss of $8.3 million.

The price for Ambiq’s stock is on track to be set after the close of markets on July 29, according to Bloomberg.

Article Topics

Ambiq  |  biometrics  |  edge AI  |  IPO  |  stocks