Sunnyvale, CA, (November 12, 2001) – Monolithic System Technology, Inc. (“MoSys”) (NASDAQ : MOSY) today announced that A.G.Edwards & Sons, Inc., the lead underwriters’ representative for the company’s July 2, 2001 initial public offering, has informed the company that it may permit early release for sale of some portion of MoSys’ common stock that is currently subject to lock-up agreements.
These agreements between the underwriters’ representative and the holders of 19,181,688 shares of common stock prohibit the sale of such shares prior to December 26, 2001 without the prior consent of A.G. Edward & Sons, Inc.
For further information about trading restrictions applicable to the company’s common stock, please refer to the discussion of “Shares Eligible for Future Sale” under the company’s prospectus filed under SEC Rule 424(b) on June 28, 2001 and under Part I., Item 2A. “Risk Factors — Shares Eligible for Future Sale” in the company’s reports on Form 10-Q filed with the Securities and Exchange Commission.
MoSys made an initial public offering of 5,000,000 shares of its Common Stock at a price of $10.00 per share on June 28, 2001 and underwriters exercised their over allotment option for 750,000 shares on July 9, 2001.
Including the exercise of the over-allotment option, MoSys received approximately $51,975,000 in net proceeds from the initial public offering. An underwriting group including A.G. Edwards & Sons, Inc. and Needham & Company, Inc managed the offering.
MoSys develops, licenses and markets innovative memory technology for semiconductors. MoSys’ patented 1T-SRAMÒ
technology offers a combination of high density, low power consumption, high speed and low cost unmatched by other available memory technologies. The single transistor bit cell used in 1T-SRAM technology results in the technology achieving much higher density than traditional four or six transistor SRAMs while using the same standard logic manufacturing processes.
1T-SRAM technology also offers the familiar, refresh-free interface and high performance for random address access cycles associated with traditional SRAMs. In addition, this technology can reduce operating power consumption by a factor of four compared with traditional SRAM technology, contributing to making it an ideal technology for embedding large memories in System on Chip (SoC) designs.
1T-SRAM technology is in volume production both in SoC products at MoSys’ licensees as well as in MoSys’ standalone memories. MoSys is headquartered at 1020 Stewart Drive, Sunnyvale, California 94085. More information is available on MoSys’
website at http://www.mosys.com.
Note for Editors:
1T-SRAM® is a MoSys trademark registered in the U.S. Patent and Trademark Office.
All other trademarks or registered trademarks are the property
of their respective owners.