Wed May 9, 2012 5:54pm EDT
May 9 (Reuters) - Voice and audio technology company Audience Inc raised $89.6 million in its initial public offering on Wednesday, pricing above the expected range, according to an underwriter, as demand continues to hold strong for technology-related offerings.
The Mountain View, California-based company, which makes processing chips used in Apple Inc products such as the iPhone, had planned to price shares between $14 and $16. It ended up selling shares at $17.
Audience will sell five million shares, while existing stockholders will sell 270,180 shares. Proceeds will be used for working capital and other corporate purposes, including research and development and expansion to new market segments.
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