Everspin Technologies Could Fall On IPO Lockup Expiration

Everspin Technologies (Nasdaq:MRAM) - Sell or Short Recommendation

The 180-day lockup period for Everspin Technologies is set to expire on April 5, 2017. At that time, its pre-IPO insiders will be allowed to offer their 7,492,015 shares, which could flood the market and have a depressing effect on the stock's value.

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(Source: SEC Filings/Shares Eligible For Future Sale)

We previously highlighted the event on our IPO Insights platform.

Everspin has a whopping eight firms and fifteen individuals holding pre-IPO shares.

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If even a portion of these insiders decides to sell, the event could significantly depress MRAM's share price. Insiders could be looking to sell for several reasons: avoid further price drops and mitigate risk, take initial profits, and/or move on to other investment projects.

Everspin Technologies: Provider of magnetic random access memory chips

Founded in 2008 and based in Chandler, Arizona, Everspin Technologies Inc. is a manufacturer and seller of magnetic random access memory chips. The company's products are used in industrial, enterprise storage, transportation and automotive applications. Everspin is currently the sole manufacturer of magnetic random access memory chips for commercial uses and has sold more than 60 million units in the last eight years.

Executive management

Phillip LoPresti is the chief executive officer, a member of the board of directors and the president of Everspin Technologies, and he has served in those roles since June 2010. Prior to that, LoPresti served in numerous executive roles for various companies and has more than 30 years of experience. LoPresti holds both an undergraduate and Masters degrees in electrical engineering from Boston University.

Jeffrey Winzeler is the chief financial officer of Everspin Technologies, serving in that role since April 2015. Previously, Winzeler served as the CFO at Avnera Corporation, Rackwise Inc., Solar Power and International Display Work. Before that, Winzeler worked for the Intel Corporation from 1988 to Aug. 2004, serving in many different positions. Winzeler holds a degree in finance from the University of Idaho.

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