Magma raises $63 million
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November 19, 2001: 7:22 p.m. ET
Chip design software firm prices above its expected range at $13 per share.
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NEW YORK (CNN/Money) - Magma Design Automation Inc., a provider of chip design software, raised more than $63 million Monday ahead of its initial public offering.
Magma sold 14.85 million shares at $13 each via lead underwriter Credit Suisse First Boston, above its already boosted terms.
The company upped its planned deal to 4.85 million shares at $11-to-$12 each Monday, up from 4 million at $9-to-$11 each.
Cupertino, Calif.-based Magma offers software that cuts the time it takes to produce communications, networking and semiconductor chips.
Magma plans to trade under "LAVA" on the Nasdaq stock market Tuesday.
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