ADNC is one of 12 IPOs scheduled for the week of May 7 (Full IPO calendar here).
Manager, Joint Managers: J.P. Morgan; Credit Suisse; Deutsche.
- ADNC provides intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices.
- Apple is the largest customer. In the March 2012 quarter ADNC shifted to licensing the product to Apple and received $19mm in revenue.
- On page 11 in the S-1 fling ADNC said “For the new generation processor IP, the royalty this OEM is required to pay us is subject to a lifetime maximum.” S-1, page 11
- But the ‘lifetime maximum’ is not specified in the SEC filing. It could be low or high relative