Finance History|Nasdaq MarketSite — Ten Dollars for Three Hundred Thousand Shares Called AMAT
· 1972-10
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Finance History|Nasdaq MarketSite — Ten Dollars for Three Hundred Thousand Shares Called AMAT
kevin
People treat Applied Materials as a Santa Clara tools house that always printed AMAT on a mature Nasdaq book.
The first public print was a five-year-old materials shop selling a thin slice of common.
Applied Materials Technology, Inc. incorporated in California on 10 November 1967. The name became Applied Materials, Inc. in 1972, the year of the offering.
The company's own investor record lists the initial public offering on 5 October 1972 at 10.00 U.S. dollars a share.
It sold 300,000 shares. Added capital from the deal was 2.5 million U.S. dollars in 1972 currency.
That 2.5 million figure is the company's number after expenses, not the 3.0 million dollar gross at the printed price.
Nasdaq as an automated quotation system was one year old. The glass MarketSite on Times Square did not exist.
The company later reincorporated in Delaware in 1987 and kept the same AMAT letters through later splits.
The Mountain View shop and the Bowers Avenue plant are separate pins. This memory is only the first public book.
The pin is the Times Square MarketSite that now stands in for the Nasdaq tape.
The mechanism is a small cash IPO that funded a pivot from process chemicals toward the wafer tools the later S and P weight is known for.
Photo: Nasdaq MarketSite, via the collection photograph already ingested for Nasdaq listings.
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