GSI Tech Prices Low

GSI Technology Inc., a Santa Clara, Calif.-based provider of static random access memory products for networking and telecom equipment, priced around 6.13 million common shares at $5.50 per share, for an IPO take of approximately $33.72 million. It had originally filed to price eight million shares at between $6.50 and $8 per share. It will trade on the Nasdaq under ticker symbol GSIT, while Needham & Co. and WR Hambrecht & Co. served as co-lead underwriters. Shareholders include Monet Capital. GSI had filed for a $103.5 million IPO in 2004, but withdrew its registration later that year.