MathStar announces pricing of public offering of common stock

JUNE 13, 2007--MathStar (Hillsboro, OR, USA) has announced the pricing of an underwritten public offering of 21,875,000 shares of newly issued common stock.

Jun 13th, 2007

JUNE 13, 2007--MathStar (Hillsboro, OR, USA; www.mathstar.com), a fabless semiconductor company specializing in high-performance programmable logic, has announced the pricing of an underwritten public offering of 21,875,000 shares of newly issued common stock at $1.60 per share before underwriting discounts and commissions. MathStar has granted to the underwriters a 30-day option to purchase up to an additional 3,125,000 shares of common stock to cover any over-allotments.

The underwriters have agreed to purchase the shares from MathStar pursuant to an underwriting agreement subject to customary closing conditions. MathStar intends to use the approximately $32.4 million in net proceeds, after deducting the underwriting discounts and commissions and its estimated offering expenses, for general corporate purposes, including expanding sales and marketing, customer service and training efforts, and investing in product-development resources. The offering is expected to close on June 18, 2007.

MDB Capital Group is acting as the sole manager for the offering. Feltl and Company is also an underwriter for the offering.

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