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Technology / AI and automation

RAMBUS SHARES FALL AFTER NEW BATCH HITS MARKET

Rambus Inc, the much-hyped purveyors of high-speed chip interface technology, said that Morgan Stanley & Co, lead underwriter of its initial public offering is releasing one million Rambus common shares from lock-up restrictions. The shares are immediately available for sale. Lock-up restrictions exist to prevent certain primary shareholders from selling their holdings until a specified time after the IPO. Rambus went public in May with an offering of 3.2 million shares (CI No 3,161). Reacting to the sudden glut on the market, Rambus shares dove $4.625 to close at $65.625 on Thursday.

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CBR Staff Writer

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