The share sale for SMART began at $16 to $18 and was bumped up to 38.8 million shares from the initial 35.3 million that the company planned to sell. It may add up to 5.8 million shares depending on how well investors pick up the stock. Major investors include Apax Partners and Intel.
Up to $758 Million will be raised from the sale, with the company itself getting $150 Million of the proceeds. It will use the money for working capital, and to pay down debt.