Audience Inc Announces Exercise Of Underwriter Option In Initial Public Offering

Audience Inc announced that, in connection with its previously announced initial public offering, the underwriters have exercised, in full, their option to purchase an additional 790,527 shares of common stock from Audience at the public offering price of $17.00 per share, less underwriting discounts and commissions. The full exercise of the option brings the total number of shares of common stock to be sold in the initial public offering to 6,060,707. Of the shares of common stock in the offering, Audience is selling 5,790,527 shares and selling stockholders are selling 270,180 shares. The aggregate net proceeds to be received by Audience are expected to be approximately $87.7 million, after the underwriting discounts and commissions and estimated offering expenses payable by the company. Audience will not receive any proceeds from the sale of shares by the selling stockholders. The offering is expected to close on or about May 15, 2012, subject to customary closing conditions. J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Pacific Crest Securities LLC is acting as co-manager for the offering.